How Petrol Spy Can Save You Money and Win You a $25 Gift Card as Gas Prices Soar
A gas price watch app is offering members the chance to win a $25 gift card every day as prices across the country continue to soar.
The average petrol price in Australia reached 195.5 cents per liter at the start of this week, according to data from the Australian Petroleum Institute watch.
The cost in the capitals is even higher at 197.5 cents per litre, with Sydney, Adelaide and Hobart recording a crippling price of over $2 per litre.
However, a handy tool could help Australians save precious dollars.
Petrol Spy is a free crowdsourced app that displays a map of petrol prices, helping Australian and New Zealand users find the best price in their area.
Gasoline prices hit their highest level so far this year to reach a national average of 195.5 cents per liter
The company offers registered members the chance to win a daily $25 fuel gift card.
‘To get an entry into the raffle, you need to earn 50 points. You can earn points by updating the current gasoline prices you know about for relevant locations in the Petrol Spy app or website,’ Petrol Spy states on its website.
‘Updating a fuel type using the Petrol Spy app or website gives you one point, resubmitting prices over 10 hours is 1 point per resubmitted fuel type.
Petrol Spy (logo above) is a free crowdsourced app that displays a map of the best local gasoline prices
‘Resubmitting prices that were submitted less than 10 hours ago and have not changed since does not earn any points.
“Submitting through the app or website or emailing us new or edited gas stations and incorrect information scores 10 points.”
Petrol Spy said members can track their points through the Profile menu option on its app and website.
A perfect storm of local and international pressure has led to fuel prices rising dramatically, with the key issue being a drop in output from major oil suppliers.
Commonwealth Bank mining and energy economist Vivek Dhar has warned motorists that rising prices are likely to remain a problem in the coming weeks, with costs expected to remain above $2 a liter for some time.
Petrol in Australia has risen by an average of 21 cents per liter in recent weeks and is expected to be between $2 and $2.10 in the coming weeks
“One has been a tightening in oil markets, and that’s being driven by resilient demand, as well as supply cuts from OPEC+, which is a group of countries that control about 40% of the global supply,” he said. ABC.
“This has, for us, been instrumental in driving up oil prices and tightening oil markets.
“The second factor has been the fall in the Aussie dollar…and as the Aussie dollar falls it makes buying petrol more expensive.”
Petrol in Australia has risen by an average of 21 cents per liter in recent weeks.
The jump is more pronounced for diesel with an increase of 33 cents per litre.
A spike in wholesale prices, compounded by the weakening Australian dollar, is affecting 85% of what motorists pay for petrol.
The remaining 15% of the price is changed by retailers.
The cost of a liter of fuel should be around $2 to $2.10 in the coming weeks.
The average weekly fuel price in Australia has generally remained around 175 to 180 cents per liter since the federal government stopped halving excise duties on fuel last September.
Brisbane had the cheapest average fuel price of any capital city this week at 188.2 cents per liter while the average price outside cities of 194.6 cents per liter
Brisbane had the cheapest average fuel price of any capital city this week at 188.2 cents a litre.
The average price recorded outside the capitals was 194.6 cents per litre.
The Northern Territories are being charged an astonishing average of 234.7 cents per litre, while residents of regional Victoria paid an average of 190.2 cents per liter last week.
