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In the two years since South Australia’s Fuel Price Transparency Scheme was introduced, RAA’s real-time fuel pricing app has saved motorists an estimated $45 million at the bowser, new data has revealed.
The legislation which requires SA fuel retailers to submit their prices to a central database, allowing drivers to shop around for the best deal, came into effect on 20 March 2021.
Data from RAA has revealed that in the two years since, more than 6.5 million fuel price checks have been carried out via the myRAA app.
RAA fuel expert Mark Borlace said a study commissioned by RAA found fuel price app users saved an average of almost $30 per month.
“Providing motorists with fuel prices at all outlets in real-time has allowed drivers to shop around for the best prices and save money at the bowser,” Mr Borlace said.
“An RAA survey of more than 500 fuel price app users found that they save an average of $28.50 per month.
“With an average of 70,000 people using our fuel price feature on the myRAA app each month, we estimate that more than $45 million could have been saved by South Aussie drivers in the past two years.
“That’s a huge win for South Australians at a time when the increasing cost of living is putting pressure on household budgets.”
Mr Borlace said global factors such as the war in Ukraine had caused Adelaide’s average ULP price to increase by around 56 cents per litre in the last two years, leaving fuel price apps with an even more important role to play.
He said RAA welcomed the State Government’s extension of the Fuel Price Transparency Scheme for a further four years.
“Adelaide’s fuel price cycle, with peaks and troughs on average around once a fortnight, allows most drivers to make it through a cycle on one tank and buy when the price is at its lowest.
“It means live fuel price apps give SA drivers a great opportunity to buy when the prices are at the lowest and save money in the long run.”
Minister for Consumer and Business Affairs Andrea Michaels MP said real time petrol price monitoring has been an invaluable source of information for South Australian motorists, especially at the point in time where the petrol price cycle begins to shift.
“With prices rising by as much as 50 cents a litre at the start of a new cycle, being able to find those service stations that haven’t yet increased their prices can save motorists between $22 and $32 per tank,” minister Michaels said.
“It’s a way of helping consumers get the best bang for their buck, by arming them with the information they need to shop around and save.”
Motorist Samuel Woghiren, 26, said he used the myRAA app to help him decide when to fill up his Mazda CX-5.
“Almost every household expense has been going up over the last year or two, so saving wherever I can has become even more important recently.
“Using the app to compare prices and even be notified when it’s a good time to fill up has helped me save more money than I expected, and also helped me become more aware of Adelaide’s petrol price cycle.”