Australia’s peak motoring body has released its latest Transport Affordability Index showing average weekly fuel costs rose 40 per cent in the 12 months to March 31, 2022.
The latest results include the impact of global price shocks flowing from the war in Ukraine, and changing vehicle purchase patterns, which in turn impact car repayments.
The AAA data shows the average weekly household transport cost in capital city households is now $401.05 and $330.67 in regional households.
AAA Managing Director Michael Bradley said: “Rising fuel prices continue to be a significant contributor to cost of living pressures across both regional and metropolitan Australia.
“Fuel costs have risen an average of $26.49 to $93.87 per week over the past twelve months in capital cities with Hobart ($100.18 pw), Sydney ($94.80 pw), Darwin ($94.36 pw) and Brisbane ($93.93 pw) the most expensive cities.
“Regionally costs are more expensive rising on average $27.89 to $96.65 per week with Bunbury ($116.31 pw), Geelong ($110.69 pw – Melbourne was $92.07) and Launceston ($109.37) the highest.”
Car loan repayments is the main cost component that has declined across the country due to a greater proportion of new car buyers choosing cheaper vehicles.
Sydney is still Australia’s most expensive capital city for transport costs averaging $474.43 per week, followed by Melbourne ($447.83) and Brisbane ($445.69). The introduction of a zone cap for public transport in Perth has also had an impact with the Western Australian capital dropping a spot on the rankings list to fifth, with Canberra now more expensive.
Bunbury is Australia’s most expensive regional city at $352.06 followed by Alice Springs ($350.45) and Geelong ($347.69).
Nationally transport costs are 14.7% of household income. The Tasmanian cities of Launceston (18.1%) and Hobart (17.9%), followed by Brisbane (17.1%) had the highest transport costs as a proportion of household income.
Full breakdown and comparison tables on the affordability index available here: Transport-Affordability – AAA – Data Dashboard