Canberrans can save nearly $300 a year on petrol by making use of free comparison apps and websites, the competition watchdog says.
The Australian Competition and Consumer Commission analysed prices across the ACT and found one area consistently came up cheapest for fuel.
The findings were outlined in the ACCC's latest petrol industry report, which outlined the two ways motorists could save money on fuel.
The report comes as Australians were on average spending about $100 a week on fuel at the beginning of 2024.
Canberrans were paying the highest price for fuel compared to other capital cities, at an average 202 cents per litre, recent ACCC data shows.
One of the ways motorists can save on fuel is by monitoring petrol price cycles, the ACCC found.
In the larger capital cities petrol prices move up and down in patterns, which are the result of pricing decisions made by petrol retailers not from changes in wholesale fuel costs.
The report found motorists in Perth could save about $740 a year if they filled up on a Tuesday, compared with days when prices were at their highest.
However Canberra is among the few smaller capital cities where price cycles do not occur, the ACCC said.
Instead, the best way for Canberra motorists to save money on fuel was to use fuel price apps and websites to shop around.
By doing so Canberrans can save an average $278 a year, the report found.
How to find the cheapest price
Fuel price transparency schemes have rolled out across Australia over several years. Victoria is now the only jurisdiction without a government-run fuel price website.
The NSW government introduced FuelCheck in 2016 and then extended its coverage to the ACT in 2022.
While it is mandatory for NSW petrol stations to display their prices on the app, it remains voluntary in the ACT.
However the ACT government reviewed the scheme in 2023 and found more than 95 per cent of fuel retailers had signed up to display their prices.
As part of its report, the ACCC analysed regular retail prices of unleaded petrol across Canberra using the FuelCheck website and found prices differed by about 11 cents per litre.
On one afternoon in April, the ACCC found the average price of unleaded petrol in the ACT was about 210 cents per litre.
At the time, Coles Express Hawker had the most expensive petrol at about 218 cents per litre. However motorists could save 10 cents per litre by driving less than two kilometres away to Metro Petroleum Scullin.
Where the lowest prices are often found
On the same April afternoon, ACCC found even cheaper petrol could be found in Fyshwick.
Costco had the lowest price for unleaded petrol at 188.7 cents per litre, while nearby fuel stations Ampol and EG Ampol were selling it for about 203 and 200 cents per litre respectively.
At the time of writing this article, prices of unleaded petrol in Canberra varied between 172.7 cents per litre in Fyshwick and 196.9 cents in Dickson.
The ACCC said Fyshwick often had the lowest fuel prices in the ACT.
"The pricing strategy of high sales, low overheads and subsequently the level of competition generated by Costco (a members only retailer) may be factors contributing to lower petrol prices around Fyshwick and the Canberra Airport area," the report stated.
"Motorists living in surroundings areas, or those travelling through Fyshwick and the Canberra Airport area can take advantage of the generally lower prices available in the region."
Shop on price above all else: ACCC
Not all motorists shopped on price, the ACCC acknowledged in its report.
"There are many reasons why motorists may choose to buy fuel at one retail site instead of another, including location, convenience, type of fuel sold, the ability to redeem discount vouchers or use a loyalty card, retail brand, convenience store, food and beverage offering (such as coffee) and the cleanliness of the retail site," the report noted.
ACCC Commissioner Anna Brakey said while not all consumers had the time or ability to always seek the lowest price, it was worth prioritising.
"These illustrative savings however show the potential value of shopping around," she said.
