Should we expect to see blow out tyre prices?

By March 24, 2022 News

Australia is expected to see a steep climb in tyre prices as manufacturers face rising oil and energy costs.

Tyre production demands the use of oil, requiring roughly 31 litres of crude oil to create a single tyre.

Late last year a barrel of oil cost $AU89 with prices increasing approximately 89% to a record $AU170 in just over 10 weeks.

Oil is used in several areas during production from the materials to energy requirements for production and transportation. As prices continue to rise for manufactures, we can expect consumers will also have to pay more.

In an article written by Drive has outlined that price could rise by 50%.

“The cost of raw materials and energy are both increasing, with an unpredictable increase in the price of oil … This is going to inflate the cost of so many industries, including air travel, construction, and unfortunately tyres,” a spokesperson for Pirelli in Australia told Drive.

Tyres are an integral part of a safe and properly functioning fleet – steep prices may create new costs but do not let this deter you from doing the right thing.

We’ve captured five easy tips to help all fleet manager improve the safety of their tyres – in turn driving improved efficiency across your operations. Continue reading about the importance of tyre safety here.