Australians could be losing out at the petrol bowser despite lower fuel prices associated with COVID-19.
Analysis by the NRMA conducted exclusively for 9News shows more Australians are taking advantage of lower prices by fuelling up with premium unleaded.
But it’s not providing on the savings they hoped for.
“There is no reason to put 98 in your car if you can use regular,” Peter Khoury from the NRMA said.
“It’s not going to benefit your engine.
“Once people saw they could get 98 at the same price that they would normally pay for regular or E10 – they were robbing themselves of petrol at 91c a litre.”
But the small gains to fuel efficiency don’t offset the extra price of premium according to Joshua Dowling from caradvice.com.au.
“You will get further on a tank of premium unleaded versus regular unleaded,” Mr Dowling said.
“But it doesn’t always make financial sense.
“If there is only a difference of 5 to 10 cents a litre, you’re probably in front.
“But if it’s more than that it doesn’t add up.”
The average price of unleaded fuel across Sydney is $1.10 per litre, but for premium 98 the average is $1.30 per litre.
The 20 cent difference does not justify the extra benefits.
Despite this more Australians turned to premium petrol during the covid crisis, according to the NRMA’s research.
The total volume of E10 and unleaded petrol consumed dropped while the volume of premium increased.
“People who were buying premium and their vehicle engine didn’t need it, they were effectively paying 20c more than they needed to be,” Mr Khoury said.
“I think a lot of people think you’re getting a better deal.”
Extracted from 9News