Petrol prices mean people are travelling less
Record petrol prices are forcing drivers off the road, with national fuel sales suffering their biggest slump in three decades.
Motorists bought almost 200 million litres less petrol in the June quarter compared with the same period last year as bowser prices passed $1.40 a litre in most capital cities.
Motoring groups last night seized on figures from the Bureau of Transport and Regional Economics, which show automotive fuel sales in the June quarter down 5 per cent on the same period last year, as evidence of how high prices were affecting individuals and business.
“The soaring price of petrol over the past year has clearly hurt Aussie consumers,” said CommSec chief equities economist Craig James.
“Spending on luxury items has been pared back while motorists have driven their cars less often and shorter distances.”
NRMA motoring and services president Alan Evans said the figures confirmed how badly motorists had been affected.
“People have really been hit,” he said. “That discretionary travel is the main thing that’s been hit.”
Tourism statistics for late last year showed people were cutting back their travel, particularly of the touring variety, with tourism numbers down about 9 per cent.
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