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ANZ leads us off. It argues that the damage to consumption from fuel price hikes is material.
According to the most recent ABS data available (2019–20), families consume about 77% of automobile gasoline and 29% of automotive diesel, which combined account for about 53% of Australia’s total automotive petroleum use (by volume).
In 2025, Australian homes consumed about 12,200 megalitres (ML) of gasoline and 5,200 ML of diesel, assuming that these shares have stayed mostly constant since 2020.
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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific's leading geo-politics and economics portal.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.