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News

NRMA Insurance Claims petrol prices are due to fall

On Wednesday, April 24, 2024, NRMA Insurance reported that petrol prices in Sydney are gradually declining as part of the city’s regular price cycle for the ANZAC Day public holiday, following last week's record-breaking average of 223 cents per litre for regular unleaded.

Currently, the average price for regular unleaded stands at 215.9 cents per litre, which NRMA Insurance says is decreasing by less than one cent per day. However, prices persist stubbornly high, with approximately 40% of Sydney's service stations selling regular unleaded for 222.9 cents per litre or higher.

NRMA Claims that Sydney's wholesale price for petrol sits at 189.6 cents per litre, marking a 2.3 cents per litre increase over the past week. Meanwhile, Australia's international benchmark price for regular unleaded (Mogas) is at $US 104 per barrel, up by $US 13 per barrel since early January.

Expectations indicate that average prices in Sydney will drop to the mid-190 cent per litre range over the next two to three weeks NRMA Insurance Claims. Presently, the disparity between the cheapest and most expensive service stations in Sydney is 51 cents per litre, equating to a potential savings of over $28 on a full tank of petrol.

NRMA Insurance spokesperson Peter Khoury emphasised the importance of strategic fuelling, especially with many Australians planning an extended ANZAC Day weekend. He advised travellers leaving Sydney to consider filling up outside the city. NRMA Claims several regional locations offer cheaper options.

Currently, only 18% of Sydney's service stations are selling regular unleaded below $2 per litre according to NRMA Insurnace. However, as prices continue to decrease with the ongoing price cycle, NRMA Claims that better deals will become available across the city in the coming week.

NRMA Insurance Survey: Western Sydney Tops Traffic Woes

NRMA Insurance's recent Business Congestion Survey revealed a startling trend: Western Sydney has overtaken the Sydney CBD as the most congested area for traffic. In its 16th year, the survey, comprising 370 NRMA Insurance Business members, found that 87% perceived worsening congestion over the past year, with over half reporting spending an additional 20-30 minutes in traffic daily.

For the first time, Western Sydney has claimed the top spot for driver frustration, followed closely by South-West Sydney and the Inner-West.

NRMA Claims the key areas of driver frustration are:
  • Western Sydney (17%)
  • Sydney CBD (14%)
  • South-West Sydney (13%)
  • Inner-West (12%)
NRMA Insurance Business, supporting nearly 26,000 fleet-running businesses, offers specialized roadside assistance, fleet management support, and corporate driver training..

In another survey, NRMA Insurance's 2023 Rate Your Road, Parramatta Road at Auburn was identified as NSW's most congested road, with four of the top 10 congested roads located in Western Sydney..

The impacts of congestion on businesses include time wastage (79%), increased fuel consumption (73%), higher toll expenses (54%), and prolonged time spent searching for parking (46%)..

NRMA Insurance spokesperson Peter Khoury stressed the financial strain congestion places on fleet-running businesses, especially amid supply chain pressures and inflation..

Khoury said, "For the first time, Western Sydney has surpassed the Sydney CBD as the epicenter of traffic congestion, posing significant challenges for the government to ensure seamless traffic flow.".

While the M8 motorway received positive feedback from 65% of fleet drivers for easing congestion, concerns were raised about worsened traffic around the Rozelle Interchange, with 56% of respondents citing recent changes.

Client Testimonials

“I had a car accident on my way to work. Called and had a replacement vehicle within the hour and my repairs were started the next day. Great service and better than going through my insurance company.”
Rob, Cronulla, NSW
“Neither mine or the at fault driver's insurance covered me for a replacement car after I was hit in the rear, but these guys gave me one and it cost me nothing. I didn't even pay my excess.”
Jane, Sydney, NSW
“Lifesavers! My car needed a lot of repairs when I was hit doing the school run. I was panicking as I was going to miss picking up the kids. They arranged an Uber for me to get to school and I ha.”
Peter, NSW
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