Why buying petrol at an independent service station can save you $445 a year – here’s where to grab a bargain
- Sydney motorists can save $445 by switching to independent service stations
- Annual petrol saving in Melbourne of $317 compared with $330 in Adelaide
- Australian Competition and Consumer Commission looked at fuel price gaps
Australian motorists can save $445 a year just by buying their petrol at a discount independent service station.
The Australian Competition and Consumer Commission calculated how much can be saved by switching away from big oil-branded fuel.
The price differences have mainly been increasing in the biggest capital cities during the past two years, even though crude oil prices dived during the start of the pandemic.
‘Independent chains generally had the lowest prices in 2020,’ the competition regulator said.
Australian motorists can save $445 a year by buying their petrol at a discount independent service station. The Australian Competition and Consumer Commission has calculated how much can be saved by switching away from big oil-branded fuel
‘Low-priced retailers, including many of the independent chains, compete vigorously on price and provide an important influence on the level of price competition across the cities.
‘There was significant variation between the highest and lowest average priced major retailer in most cities.’
The ACCC found independent chains had the lowest prices in every capital city, from Speedway in Sydney to Metro Petroleum in Melbourne and Canberra, United in Brisbane, Adelaide and Hobart, Vibe in Perth, and FuelXpress in Darwin.
Sydney
In Sydney, there was a 17.1c a litre difference between the cheapest and most expensive unleaded, which if applied over a year would save a motorist $445.
Speedway Petroleum, an independent retailer, was 10.7c below the average pump price while BP outlets, owned by the company, were 6.4c above the average.
Even before the pandemic, Sydney was home to 866 petrol stations with 20 per cent, or 171 of them, being small independents.
These smaller outlets outnumbered every other brand, including 7-Eleven which had 140 outlets.
Apart from Hobart, Sydney was the only capital city where small independents had a higher market share than every other brand, including the smaller discount retailers.
In Sydney, there was a 17.1c a litre difference between the cheapest and most expensive unleaded, which if applied over a year would save a motorist $445. Speedway Petroleum, an independent retailer, was 10.7c below the average pump price while BP outlets, owned by the company, were 6.4c above the average
Melbourne
In Melbourne, motorists could save $317 by choosing an independent retailer with a 12.2c-a-litre gap between the cheapest and most expensive fuel.
Metro Petroleum was 8.6c below the average while BP was 3.6c above the mean.
Adelaide
Adelaide had an even more dramatic $330 gap with a 12.7c gulf between the best and worst-priced fuel.
United Petroleum was 10.7c a litre below the average.
In Melbourne, motorists could save $317 by choosing an independent retailer with a 12.2c-a-litre gap between the cheapest and most expensive fuel. Metro Petroleum was 8.6c below the average while BP was 3.6c above the mean
Brisbane
In Brisbane, a motorist switching to independent outlets could save $174 a year with a 6.7c a litre gap between the priciest and best value petrol, with United Petroleum 4.6c below the average.
Perth
Western Australia’s capital had an 8.3c gap between the cheapest and dearest fuel, with Vibe 5.1c below the average.
The ACCC found independent chains had the lowest prices in every capital city, from Speedway in Sydney to Metro Petroleum in Melbourne and Canberra, United in Brisbane, Adelaide and Hobart, Vibe in Perth and FuelXpress in Darwin