How Petrol Spy can save you money and win you a $25 gift card as petrol prices rise
A gas price monitoring app offers members the chance to win a $25 gift card every day as prices continue to rise across the country.
The average price for petrol in Australia stood at 195.5 cents per liter early this week, data from the Australian Institute of Petroleum showed.
Costs in capital cities are even higher at 197.5 cents per litre, with Sydney, Adelaide and Hobart recording a crippling price of over $2 per litre.
However, one handy tool can help Aussies save precious dollars.
Petrol Spy is a free crowdsourcing app that displays a petrol price map to help Australian and New Zealand users find the best price in their area.
The price of gasoline has risen to its highest point yet this year at a national average of 195.5 cents per liter
The company is offering registered members the chance to win a $25 fuel gift card every day.
To get one entry into the draw, you need to earn 50 points. You can earn points by updating current petrol prices that you are aware of for corresponding locations in the Petrol Spy app or website.
‘Updating one fuel type using the Petrol Spy app or website will earn you one point, resubmitting prices older than 10 hours is 1 point per resubmitted fuel type.
Petrol Spy (logo above) is a free crowdsourcing app that shows a map of the best local petrol prices
Resubmitting prizes that were submitted less than 10 hours ago and have not been changed since will not earn points.
‘New filling stations or changes and incorrect information via the app or website or e-mailing us earns 10 points.’
Petrol Spy said members can keep track of their points through the Profile menu option on the app and website.
A perfect storm of local and international pressure has led to the dramatic rise in the price of fuel, with the main problem being a decline in production from major oil suppliers.
Commonwealth Bank mining and energy economist Vivek Dhar warned drivers that price hikes are likely to remain a problem for weeks to come as costs will remain above $2 a liter for some time.
Petrol in Australia has increased 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 is a tightening of oil markets, and that’s driven by resilient demand, as well as OPEC+ supply constraints, a group of countries that control about 40 percent of global supply,” he said. ABC.
“That has played an important role for us in pushing up oil prices and tightening oil markets.
“The second factor is a fall in the Australian dollar… and as the Australian dollar falls, it becomes more expensive to buy petrol.”
Petrol in Australia has risen by an average of 21 cents per liter in recent weeks.
The jump is steeper for diesel with an increase of 33 cents per litre.
A rise in wholesale prices, compounded by Australia’s weaker dollar, affects 85 percent of what motorists pay for petrol.
The other 15 percent of the price is changed by retailers.
The cost for a liter of fuel is expected to be around $2 to $2.10 in the coming weeks.
The weekly average price for fuel in Australia has typically remained around 175 to 180 cents per liter since the federal government stopped cutting fuel duty in half last September.
Brisbane had the cheapest average fuel price of any capital city this week at 188.2 cents per litre, while the average price outside the cities was 194.6 cents per liter
Brisbane had the cheapest average fuel price of all capital cities this week at 188.2 cents per litre.
The average price outside the capitals was 194.6 cents per litre.
Northern Territorians pay an astonishing average of 234.7 cents per liter, while regional Victorians paid an average of 190.2 cents per liter last week.