The ACCC says petrol prices have already peaked for the year in most Australian capital cities, and its analysis of the pricing cycles show costs should fall just before Christmas.
Tagged With fuel
Under the Australian Government's Australian Design Rules, vehicle manufacturers need to measure noxious emissions standards in a laboratory test, and have laboratory-based fuel consumption information displayed on a "Fuel Consumption Label" wherever you fill up.
But since there is no way for anyone to know how these lab results translate in the real world, the Australian Automobile Association (AAA) commissioned a study of 30 vehicles to work it out - and preliminary results are showing a big difference.
Scientists recently developed a method to convert sewage into biocrude oil, so it appears that our future will quite literally be shit. According to a report from Pacific Northwest National Laboratory, researchers converted poop to oil using a process called hydrothermal liquefaction. PNNL explains that hydrothermal liquefaction "mimics the geological conditions the Earth uses to create crude oil, using high pressure and temperature to achieve in minutes something that takes Mother Nature millions of years."
PhD student Songpol Boonsawat has developed a waste disposal system that turns household plastic waste, contaminated plastic waste and targeted plastic waste into fuel. If implemented across homes and councils across Australia, it could result in an 80 per cent reduction of plastic waste in landfill.
Songpol says there is huge potential for some councils to convert plastics into as much as 73 million litres of oil each year.
The Federal Government has assured industry and the public that tougher CO2 regulations will have no negative impact on consumers, as the fuel savings will cover the additional upfront cost of more fuel efficient vehicles.
But new analysis by the Centre for International Economics shows otherwise, and the Australian Automobile Association (AAA) has called upon the Federal Government to re-explore all costs and benefits associated with proposed vehicle emissions regulations.
The national body representing fuel retailers in Australia has openly criticised the ACCC's June 2016 Quarterly Report on the Australian Petroleum Market for being "somewhat selective" in its most recent commentary on retail petrol price movements — namely that petrol prices have hit a new low — but retailers are charging more than ever.
The average Australian family is spending up to $22,000 every year to get around, according to the Australian Automobile Association.
The AAA commissioned Australia's first Transport Affordability Index to track transport affordability by analysing tax, tollways, public transport and finance costs as a proportion of average household income across states and territories.