There were six days in the last six months when petrol prices were at their peak - and the ACCC says if we just didn't buy fuel on those peak price days we could have saved an average 2.6 cents per litre, or something like $85 million a year.
The solution? The ACCC says "use an app".
"Avoiding buying petrol on the 10 days around the price cycle peaks would see motorists save 3.8–6.1 cpl in the capital cities. This would see annual savings of $141 million in Sydney, $124 million in Melbourne, $68 million in Brisbane and $55 million in Adelaide," ACCC Chairman Rod Sims said.
Mr Simms says we should be timing petrol purchases using the price cycle advice on the ACCC website, then "using fuel price transparency apps or websites to find the most competitive fuel price near you."
"Use of these apps and websites is particularly relevant to those motorists in the larger cities which have petrol price cycles."
BP's latest innovation has been announced — a smartphone payment technology which lets you buy fuel from your car.
The free BPMe app is the first of its kind in Australia and also allows you to track your odometer, store electronic fuel receipts and locate your closest BP service station.
Ever wondered where the cheapest petrol or diesel or LPG is around your house or near your work? GasBuddy, a fuel-finding app which has over 15 million active users in the US, is launching today in Australia.