Petrol prices nearly triple in 25 years, squeezing Ballarat budgets
Petrol has risen to 223.3 cents a litre from 81.3 cents in 2001, and costs about 38 percent more after inflation.
Petrol prices have surged in nominal terms over 25 years. A litre of unleaded cost just 81.3 cents in 2001 but now costs 223.3 cents.
After adjusting for inflation, petrol is about 38 per cent more expensive today than in 2001. Diesel is even steeper at 269.9 cents a litre, up about 50 per cent in real terms.
Household incomes in Ballarat have roughly doubled over the same period, but fuel costs have climbed faster than pay. Small business owners say they can no longer afford full tanks.
The Reserve Bank lifted the cash rate to 4.6 per cent on September 29. It cited global energy price spikes from Middle East conflict as one driver of rising fuel costs.
- 223.3 cents a litre
- Unleaded price today
- 38 per cent since 2001
- Real price increase
- 269.9 cents a litre
- Diesel price today
- 4.6 per cent
- RBA cash rate
Why it mattersFuel costs have climbed faster than wages have grown. Small business owners and household budgets are being squeezed.
AustraliaAustralians nationwide face higher transport and delivery costs, squeezing prices on goods and services as energy inflation spreads through the economy.
✓ Claims checked against the source and corrected before publish. checked 3 h ago
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