Transport cost increases above national average for Victorians
The latest edition of the Transport Affordability Index has revealed transport costs have increased at a higher rate for Metro and regional Victorians compared to the national average.
According to the Australian Automotive Association’s (AAA) latest edition of the Transport Affordability Index, weekly transport costs have risen across almost all capital cities in Australia over the past three months as interest rate rises fuel higher car loan repayments.
The average cost of transport across Australia has risen by $13.42 per week over the last year, or $698 annually. While almost every capital city and regional centre saw an increase over the past year, Victorians have seen costs increase well above the national average.
For residents of Melbourne and Geelong, annual costs have risen by $867 and $1,088 respectively.
RACV Head of Policy, James Williams says a slight decrease in fuel prices over July, August and September has been offset by other transport cost increases.
“Despite a brief reprieve on fuel prices between July and September the AAA’s report shows an overall increase in transport costs across Melbourne and Geelong. This increase was driven in most part by higher vehicle purchase prices.”
“Melburnians are paying $16.67 per week more for transport compared to this time last year and Geelong residents are paying an extra $20.93 per week.”
“To find the best deal for fuel at any location, motorists can download RACV’s arevo journey planning app. Arevo sorts by distance, lowest price or preferred brand with an interactive map that updates every 15 minutes. The Fuel Tracker continues to be available on the RACV website.”