Surging living costs drive spike in petrol theft

Aussies already squeezed by soaring rents and rising mortgage repayments are set to face another hit to household budgets with forecasts petrol prices are set to climb over the coming weeks, while new research warns prolonged cost-of-living pressure can be a key driver of petrol theft.This year’s petrol price surges have followed escalating Middle East conflict, with new forecasts prices could climb over the coming weeks.New research from the NSW Bureau of Crime Statistics and Research (BOCSAR) has found that rising petrol prices increase petrol theft, but over time, broader cost-of-living pressures appear to have an even greater influence on theft rates.The research found a 1 per cent increase in petrol prices was estimated to result in around a 3 per cent increase in monthly petrol thefts.However, it was broader economic conditions, particularly rising living costs along with changes in wages which was more strongly correlated to petrol theft rates over time.Source: BOCSARBOCSAR Executive Director Jackie Fitzgerald said the research shows petrol theft was linked to wider financial strain facing households, not just fuel prices alone.Ms Fitzgerald said while higher petrol prices d...