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Price of petrol + Big Mac + Bank interest rate in Australia August 2024
Welcome to my updated monthly report on key financial figures for Australia. I am doing this to keep historical notes through my life. These figures reported are what I see at the various places and an aggregate.
The price of petrol I paid during August 2024 averaged $1.65 for unleaded 91 Octane. Add up to 15c for 95 or 25c for 98. The price for petrol varied many times during the month starting at about $2 but fell to $1,65 at the close of the month.
The price of diesel was around $1.90 the last time time looked and this the price does not fluctuate much compared to unleaded. Adblue was also priced at about $2 per litre.
The price of a Big Mac in August 2024 averaged $7.85. Note that I should have update the price last month but simply forgot to do it. The price for the burger al one does vary from store to store based on location! The medium sized meal deal which included fries and a drink costs $13.40 as per my monthly visit. As always this is not a fixed price as McDonald’s has a very active app and promotional pricing and freebie schedule.
The RBA – Reverse Bank of Australia the country’s central bank kept the basic rate at 4.35%
The home loan interest rate range in August 2024 in Australia was : 5.5 – 9.5%
The saving interest rate range in August 2024 in Australia was : 0 – 5.5%
Note that the rates I saw came with conditions or short term promotion periods – very naughty.
***That said some of the major banks have recued rates by.25% read into that what you may.
Note that fuel prices also vary according to area, the level of competition and a whole heap of other factors like shopping discounts, wars, world wide economics and so forth, however unreasonable high prices (relative to crude oil prices) is greed. Also note that the Octane level I post here represents Australian measurement which is different from those in other countries eg. US.
Apart from the actual prices I paid at the servo the websites I use to research the crude oil pricing are:
Australian Institute of Petroleum (Note that they AIP represents the oil companies.)
Index Mundi (Seems independent)