One budgeting expert tells New Idea Food you can conservatively save around $20 a week by using the app - which equates to a whopping $1000 a year.
‘Fuel usually works on a seven-day cycle from a low discounted price to a high price,’ finance expert James Ardu says.
‘It was once said that Tuesdays was the cheapest day for fuel - but that’s not usually the case these days, and oil suppliers are not making it easy to predict the cheapest day.
‘That’s why the 7-Eleven Fuel App is such a good idea. In this day and age with conflict in Iran, the low price has gone from a low of 130 cents to a high of 175 cents within seven days.
‘So if you locked in your price at 130 cents on the app and an average car takes 60 litres to fill, you’re saving 45 cents a litres - or around $27.
‘If you consistently lock in the price weekly for a year - using one tank of petrol a week - you should see savings of at least $20 a week in the current climate, or $1000 a year.
‘That’s a thousand dollars you can put aside to spend on Christmas!’
Posting on Markdown Addicts Australia Facebook group, shopper Karen writes: ‘I was hesitant to initially register for the 7-Eleven fuel app. Especially since you have to lock in a $$ amount to reserve your discounted price.
‘But my budget finally allowed me to spare $50 which I used to set up my account.
‘Locked in my lowest price at the time, then the following week the petrol prices went up. The staff on duty were lovely explaining how to redeem my lower price and to redeem a free coffee as well... lol. I saved over $15 on that tank of fuel, I was ecstatic at my savings.
‘Just looking at the savings this week... I loved in $132.50 for 60 litres, currently fuel prices around me are 175.9. Will be pretty happy with that savings this week.
‘I go thru a tank a week with travelling to work. So I appreciate any savings I can get.’
How the 7-Eleven Fuel App works:
1. Download the 7-Eleven Fuel App via the Apple App Store or Google Play.
2. Choose the type of fuel you want to purchase.
3. Search 7-Eleven Fuel Stores in your area on the app to find the best local price. We recommend doing this every day, so you're on top of what the lowest price is.
4. Register for a 7-Eleven Card via the app and load it up with cash. You will need this to lock in the low price fuel.
5. Select your litres and lock in that low price. But remember, you can only lock in as much fuel as there is money on your 7-Eleven card.
6. You’re all set! Just scan your Fuel Lock Voucher at the counter to redeem your locked-in price. You have 7 days to use the voucher at any 7-Eleven store in Australia.