After advocating for years for South Aussies to have ready access to the cheapest fuel prices, we welcome today’s commitment from Premier Marshall to make Real-Time Fuel Pricing permanent.
The announcement comes one year into the two-year trial of the scheme, following its huge success, and will see fuel outlets continue to report price changes to a central database before implementing them.
Now just one year into the two-year trail, the evidence is clear – real-time fuel pricing is making a positive difference to the hip pockets of South Australians. As part of our Six for the State election platform we are calling on all political parties to commit to making the Real-Time Fuel Pricing trial permanent.
Since the introduction of a real-time fuel pricing trial for SA in 2021, motorists had access to transparent pricing for every fuel outlet in the state.
What followed – the addition of the fuel pricing feature on the myRAA app – has delivered thousands in savings to more than 100,000 South Australian motorists each month.
Today’s announcement is a big win for RAA members and all South Australians who now have the potential to be financially better off. However, to ensure this becomes a reality we are calling on all political parties to make the same commitment.
Under real-time fuel pricing laws, the State Government requires all SA fuel retailers to report their prices to a central database within 30 minutes of the price changing at the pump. These prices are then published in real-time on websites and apps. South Australia’s two-year trial began on 19 March 2021.
Real-time fuel pricing has many benefits for SA motorists including the below.
Before real-time fuel pricing, SA motorists could access petrol price information through a range of fuel-comparison apps that rely on a mix of data from users, retailers and private companies. However, this information wasn’t always accurate or up-to-date.
Mandatory real-time fuel price reporting means prices published online are updated regularly, helping consumers save money at the pump by choosing when and where to buy.
According to the Australian Competition and Consumer Commission (ACCC), giving motorists more access to petrol price data will empower them to make better purchasing decisions.
By using the myRAA app or website to access real-time fuel prices, motorists in SA can check to see where the cheapest and most expensive fuel in their area is being sold, allowing them to shop around and find the best deal.
This is particularly handy when fuel prices spike by 30 to 40 cents a litre within a couple of hours. Access to real-time fuel pricing has the potential to save South Australians hundreds of dollars per year. Motorists using these apps to buy petrol from the cheapest Adelaide retailer at the cheapest point in the fuel price cycle could typically save $230 a year.
Mandatory real-time fuel price reporting will help give motorists the power to find cheaper fuel, meaning retailers who offer the best deal are likely to be rewarded with more customers. This will encourage more competition between retailers, which may lead to lower average prices.