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AAP
AAP
Business
Finbar O'Mallon

Australians paying record transport costs

The high cost of petrol for Australians in 2021 is likely to worsen following Russia's actions. (AAP)

Australians are spending record amounts on transport costs with motorists paying $70 more per week at the bowser at the end of 2021 than they were a year earlier.

The figures from the latest Australian Automobile Association transport affordability index show motorists were spending $380.10 per week in the last quarter of 2021, compared to $309.92 at the end of 2020.

This meant a rise from 12.6 per cent of household income to 15.3 per cent over the same period.

Of the capitals, Sydneysiders were spending the most on fuel at $485.14 per week in the last quarter of 2021, up from $411.58 at the end of 2020.

Out in the regions, Alice Spring residents were spending the most - $360.88 per week at the end of 2021 compared to $288.32 a year earlier.

But it was Hobart and Launceston residents who spent the largest share of household incomes, out of the metropolitan and regional centres.

Hobart residents are spending 18.2 per cent of household income on fuel, nearly three points higher than the national average, despite paying the lowest amount per week at $363.77.

In Launceston, residents were paying 18.5 per cent of their household income.

Sydneysiders, who are spending the most on fuel, are only forking out 15.7 per cent per week of their household income.

Wagga Wagga drivers were spending only $315.24 on fuel per week by the end of 2021, with the cost the lowest share of household income - 11 per cent.

Canberrans were spending 14 per cent of their household income on transport cost, the lowest amount out of the capitals.

The index follows warnings from the NRMA that the Russian invasion of Ukraine saw a "significant spike" in fuel costs overnight on Friday.

"Unfortunately as feared and predicted, the events of the last 24 hours have led to a sudden increase overnight of world oil prices," the NRMA's Peter Khoury said on Friday.

NSW Premier Dominic Perrottet also warned on Friday the invasion would see people paying more at the bowser.

The federal government has ruled out making changes to the fuel excise, allowing for cheaper fuel, saying any small decrease of a few cents per litre would be swallowed by the rapid fluctuations in petrol prices.

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