Soaring petrol costs squeeze household budgets

Data from the Australian Automobile Association (AAA) highlights the impact of rising petrol prices on household budgets.

The AAA’s latest Transport Affordability Index data shows that the average fuel bill nationwide rose by $5 a week to $100.39 in the June quarter. The average weekly cost of fuel was $98.37 in capital cities and $102.71 in regional areas.

AAA MD Michael Bradley says fuel prices are continuing to rise despite the temporary reduction in the excise tax, and are a significant contributor to cost-of-living and inflation pressures across Australia:

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About the author

Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.