Valueseeker - Saving Money on Fuel

Nedlands, Australia (PressExposure) September 29, 2009 -- Most service stations operate on what we call ‘Pricing Cycles’ (which are characterised by ‘peaks’ at the high end of a cycle and slow decreases at the low end of the cycle). The amount that you’ll pay at the outlet is largely determined by what part of the cycle that the outlet is in, and this amount will usually change on a daily basis.

It is a similar marketing strategy to when cinemas have “Cheap Tuesday” movie tickets, where they try and capitalise on what would otherwise have been quiet periods.

Typically, throughout most major cities, there are ‘weekly price cycles’, which usually peak on Wednesday, depending on where you live. When this happens, you would expect to see prices rise approximately 15-20 cents a litre, and start lowering by the end of the weekend, or the start of the following week.

Here are some tips:

- Watch your local retail outlet, and try and see when the cycle is at the highest and when it’s at its lowest. Even though a new pricing cycle may begin on Wednesday, some retailers may not raise the pricing until the day after.

- It is better to buy petrol when it is cheap, not when your tank is empty. My car has a tank of approximately 40 litres, so if I left it until I had to refill at the beginning of a peak cycle, I could be paying $ 8.00 a week more (which is over $ 400.00 a year)

- If you shop at any supermarkets where they have a fuel offer (a certain number of cents off a litre), it may be worth your while to see if there is an affiliated service station close by. Some supermarkets allow you to use vouchers for up to 150 litres.

- If you are running low, and it’s at the peak of the price cycle, it may be better to go to an independent retailer – as they tend to keep their prices roughly the same (as opposed to having big hikes, and then big reductions).

Drive safely.


About Financial Redress

Valueseeker is all about helping consumers and businesses make more informed choices when it comes to financial products. I want to expose those financial institutions whose products and services represent very poor value to the consumer. By the same token, where a financial product genuinely offers good value to you the consumer, I will be happy to recommend it.

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Press Release Submitted On: September 29, 2009 at 3:06 am
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