Transport affordability continues to decline across Australia in 2021
The Australian Automobile Association have released their latest Transport Affordability Index, and the findings for 2021 aren’t good for commuters.
The rising cost of transport continues to hit Victorians’ household budgets, with new figures showing transport costs rose by more than $60 per week for Melburnians and more than $75 per week for some regional areas in 2021.
Victorians are currently paying $77 more per week on transport than the national average, new figures released by the Australian Automobile Association (AAA) show. But the increased costs aren't being borne by everyone as a number of Victorians are not commuting full time.
The AAA’s quarterly Transport Affordability Index factors in a range of transportation costs, including average fuel prices, car loan payments, insurance costs and roadway tolls costs.
Melburnians now spend an average $457.12 per week on transport – up $64.35 from a year prior. Meanwhile, transport costs grew in Geelong to $357.28 per week – an increase of $72.66 from 2020.
Historically, the AAA Affordability Index shows a gradual and steady rise or decline for both public and private transport affordability – normally in step with fluctuating fuel prices. However, 2021 saw a dramatic decline in transport affordability with costs increasing by almost 17 per cent.
“Rising fuel prices continue to be a significant contributor to cost of living pressures across both regional and metropolitan Australia,” AAA Managing Director Michael Bradley says.
“With a federal election and two state elections this year, this index is a timely reminder that policies that further increase transport costs need to be avoided.”