Aussie drivers are changing their habits behind the wheel as fuel prices remain high, with new research from finance experts Money.com.au showing that 39 per cent are driving slower than usual or below the speed limit to save money.
According to the survey of more than 1000 Australian drivers, those using the tactic are travelling an average of 7km/h below the sign-posted speed limit. Around 23 per cent said they reduce their speed on suburban and arterial roads, while 16 per cent said they do it on a major freeway.
Still, most motorists are not taking that approach. The research found that 61 per cent of surveyed drivers said they do not reduce their speeds to save petrol.
The trend is strongest among younger Australians, although it spans every generation. Gen Z drivers were the most likely to cut their speed to conserve fuel, at 45 per cent, and they also reported the biggest reduction, averaging 8km/h below the speed limit. By comparison, 42 per cent of Millennials said they slow down to save fuel, while 36 per cent of Gen X and Baby Boomers respectively said they do the same.
“Petrol is one of those grudge expenses, and with the full fuel excise now at 53.7 cents per litre, it makes sense that drivers are looking for small ways to save at the pump. While many Aussies are driving less or catching more public transport, others are simply easing off the accelerator to stretch every litre further,” said Money’s head of insights, Sean Callery.
Callery said that while driving more slowly can make some difference, it is not the only way to reduce fuel bills. “Driving a little slower can improve fuel efficiency up to a point, but there are better ways to reduce your fuel bill. Use a fuel-tracking app to find cheaper petrol in your area or exchange your credit card points for fuel gift cards to save directly at the bowser. Smooth acceleration, keeping your tyres properly inflated and avoiding unnecessary weight in the car can also help improve fuel economy.”
