The secret to buying petrol at the best price
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New price monitoring a boon for motorists
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When most motorists need to fill up it's simply a case of
searching out a petrol station, pulling in, then connecting
the hose of the required fuel to your vehicle.
According to the ACCC, however, motorists living in five
of Australia's capital cities may be able to save themselves
significant amounts of money over a year by heeding what it
calls price "troughs" and "peaks".
By examining past price cycles, the ACCC is able to essentially
predict which day is the best time of the week to buy petrol.
The prices listed by the ACCC are based on regular unleaded
petrol, so while premium is likely to mirror regular petrol
quite closely, LPG or diesel may not.
Take a closer look at when is the best time, on average,
to fill up with petrol in the following Australian cities:
Perth
On average, the best day to buy fuel in Perth would be on
Monday or Tuesday, the latter of which had highest
percentage of recorded troughs - 36 per cent. Friday
recorded some 47 per cent of peaks in fuel prices, meaning
statistically it would be most expensive day in the week to
buy fuel.
Sydney
On average, the best day to buy fuel in Sydney would be on
Monday's, which recorded an impressive 94 per cent
of troughs in the time between 1/7/02 and 31/10/02. Interestingly,
Wednesday (61%) and Thursday (39%) appear to
be the only two days in which more fuel prices have
hit their highest in Sydney.
Brisbane
On average, fuel prices peaked most often later in the week,
on Thursday and Friday, with Friday recording
the highest number of peaks (47%). The best day of the week
to buy fuel in Brisbane is on Monday and Wednesday,
with a combined total of 66 per cent (33% a piece) of price
troughs. Tuesday appears to be a good day too, recording many
more troughs than peaks.
Melbourne
On average, the best day to buy fuel in Melbourne is on Thursday,
with some 61 per cent of troughs recorded on that day. The
remaining 39 per cent of troughs were recorded early in the
working week (Mon, Tue, Wed). Statistically, fuel prices peak
more often on Saturday in Melbourne, recording 88 per
cent of all peaks.
Adelaide
The statistics indicate that, in Adelaide, fuel prices peak
more often on Saturday (53%) than any other day, followed
closely by Friday. The troughs, when prices fall, occured
most on Thursday.
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