Petrol pushing up car running costs

Petrol prices are pushing up the cost of running new cars, a survey shows.
Petrol prices are pushing up the cost of running new cars, a survey shows.

Higher fuel prices have pumped up the weekly cost of new car ownership, a motoring group says.

The Royal Automobile Association's annual survey has put the average weekly cost in 2019 at about $228, up from $218 last year.

The survey is based on expenses such as fuel, maintenance, depreciation, registration, insurance and repayments over a five-year ownership period.

RAA senior manager Mark Borlace says higher average fuel prices have been a major factor in the increasing cost of car ownership.

But he says depreciation remains the biggest hit for car buyers.

"Depreciation is the biggest budget killer and tends to become painfully apparent when motorists realise how much they'll get for their trade-in car compared to its price when new," Mr Borlace said.

The RAA survey found that the Kia Picanto was the cheapest new car to buy and run at $111.49 a week.

This compared to $562.70 for the Tesla Model S electric car, despite the cheaper fuel costs.

Australian Associated Press