Victorians brace for New Year’s Day price hikes

Victorians are about to get whacked by a series of price hikes in 2018, according to Victorian Council of Social Service.

“Energy prices, public transport fares, Citilink tolls and some city parking costs will jump on January the 1st,” VCOSS CEO Emma King has warned.

“It may just seem like a dollar here or there. But if you’re running a household budget where every dollar counts, that can be a body-blow.”

“Prices are meant to rise gradually in line with inflation and wage growth, but many Victorians haven’t had a pay rise in years.”

Predicted price hikes include:

Energy

The power companies’ basic standing offers are set to increase on 1 January 2018 by: 9.4% (AGL), 13.7% (Energy Australia), 14.4% (Origin Energy) and 16% (Momentum Energy).

Public transport

From 1 January 2018, most public transport fares will rise by 4.7 per cent. For example, a yearly Myki for most adults will jump by $84.50 (from $1,599 to $1,683.50).

Road tolls

CityLink tolls will increase from 1 January 2018, but the road operator won’t announce the size of the price hike until the New Year’s Day. Eastlink toll will not change.

CBD congestion levy

The Melbourne congestion levy will increase by up to $30 on 1 January 2018.

This levy is essentially a parking fee, charged annually on off-street car parking spaces.
However, Ms King said there is some good news with the introduction of short-term car registrations in Victoria.

“From New Year’s Day, people will be able to purchase a short-term car rego, of either three or six months.”

“This will mean people no longer have to dread the annual rego bill, which can punch a hole in the family budget.

“Victorians will now be able to pay a smaller and more manageable fee.”

“This is a win for people doing it tough and who need to keep their car on the road.”

A $2.45 fee will apply to each short term renewal, adding up to a maximum of $9.80 annually, but this fee will be waived for concession card holders.

 

Main image: Intrinsic-Image/CC BY-NC-ND