Fuel Price Hacks Go Viral Amid Panic Buying and Shortages in Australia
As Australians scramble to pre-empt the impacts of Middle East conflicts on local service stations, tips on finding the cheapest fuel and cutting costs are spreading rapidly online. While petrol prices are undeniably skyrocketing, panic-buying is accelerating that rise, making it increasingly costly for people to fill their tanks.
Widespread Fuel Shortages and Government Response
In New South Wales alone, 42 petrol stations had completely run out of fuel yesterday, with an additional 107 stations without diesel. Panic-buying "worsens local shortages faster than the underlying supply disruption itself," according to an Adelaide University supply chain expert this week.
Meanwhile, Energy Minister Chris Bowen acknowledged the risk of major fuel inflation due to halted oil shipments through the Strait of Hormuz but stated current price hikes are primarily due to "an increase in demand." On Thursday, Bowen announced a new Fuel Supply Taskforce to ensure future fuel security, asserting, "Our fuel supply is currently secure."
Viral Cost-Saving Tips and Expert Advice
Despite government assurances, motorists with empty tanks still need to fill up, leading netizens to share penny-pinching advice. One Sydney mum went viral on TikTok with her top three tips:
- Fill up at Costco, which offers competitive prices for members.
- Download the My 7-Eleven app for exclusive discounts, promotions, and loyalty rewards.
- Consult fuel price maps like RACQ in Queensland, Fuel Check in NSW, RAA in SA, or national options such as PetrolSpy.
Retail and consumer behaviour expert Gary Mortimer told 7NEWS.com.au that people can generally save about 4 cents per litre through various fuel deal discounts at service stations. Additional savings can come from credit card benefits, frequent flyer schemes, and motoring bodies like South Australia's RAA, which offers a 10-cent-per-litre discount to members at Caltex stations. However, some RAA members have noted that Caltex fuel has consistently been about 10 cents more expensive per litre than competitors recently.
Investigations and Warnings Against Price Gouging
NSW Premier Chris Minns announced on Thursday that the Australian Competition and Consumer Commission will investigate any abuse of market power in the fuel supply chain, with doubled penalties for breaches. "We won’t allow and must be vigilant against price gouging up and down the supply chain," Minns said in Question Time. He warned that this directly affects farmers, primary producers, and ultimately all consumers as grocery and food prices increase exponentially.
Expert Analogy: Fuel as Toilet Paper
Mortimer explained how rushing to the bowser forces petrol prices up and causes shortages, comparing it to toilet paper during panic buys. "Fuel is a lot like toilet paper. It is a product that need is easily forecast based on how many people fill up their cars on any given day," he said. "It’s usually a stable demand. But as soon as we move off of a forecast, and everybody fills up their tanks on a Wednesday, the supply system can’t keep up. Tanks run out and then we have more deliveries happening around the country."
This increased demand requires fuel depots to deploy more trucks and drivers, raising business costs that flow through to retail prices. Minns urged people to buy petrol only when necessary, cautioning, "It will come, or may come, at the expense of a neighbour or another member of the community who might need access to that, particularly if you’re in a regional community in NSW."
