How we calculate the Helira Fuel Index — and why it matters

The Helira Fuel Price Index (HFPI) is a daily measure of retail fuel costs across Australia. We publish it because existing fuel price data is either locked behind government reporting delays, scattered across state-specific portals, or presented without context. The HFPI aims to be timely, transparent, and useful.

This post explains exactly how we calculate it, where the data comes from, and what the index does and does not tell you.

What the HFPI measures

The HFPI is a volume-weighted average retail price for four fuel types — E10, U91, U95, and diesel — across all stations in our database. We calculate separate indices for each fuel type, each state, and each capital city, plus a national composite.

The index is expressed in cents per litre and updated multiple times per day as new price data arrives. It is not a spot price or a wholesale benchmark. It reflects what drivers are actually paying at the bowser right now.

Data sources

Our fuel price data comes from four state government fuel reporting schemes:

• NSW: FuelCheck, operated by NSW Fair Trading. All NSW retailers are required by law to report price changes within 30 minutes.
• Victoria: Victorian Fuel Price API via the state's fuel pricing information scheme.
• Queensland: Queensland Government fuel price reporting service.
• Western Australia: FuelWatch, operated by the WA Department of Mines, Industry Regulation and Safety. WA is unique in that next-day prices are published the afternoon before.

Combined, these sources cover over 5,400 fuel stations across the four most populated states in Australia, representing approximately 85% of the national fuel retail market.

Calculation method

The HFPI for each fuel type and geography is calculated as follows:

1. We collect the latest reported price from every station in the selected geography.
2. Stations that have not reported a price update in the last 48 hours are excluded. This removes closed stations and stale data.
3. We calculate a simple average (mean) of all remaining station prices.
4. We also calculate the median, the 10th percentile (cheapest decile), and the 90th percentile (most expensive decile) to show the spread.
5. The headline HFPI number is the mean. The spread indicators are published alongside it.

We chose a simple mean over a volume-weighted average because individual station sales volumes are not publicly available. The mean is straightforward, reproducible, and closely tracks the ACCC's own quarterly averages (typically within 0.5c/L).

What the HFPI tells you

• The general direction of fuel prices — rising, falling, or stable.
• How your local area compares to the state or national average.
• Where we are in the fuel price cycle (the spread between the 10th and 90th percentile widens at the top of the cycle and narrows at the bottom).
• Week-on-week and month-on-month trends with historical comparison.

What the HFPI does not tell you

• It does not cover SA, Tasmania, NT, or ACT. We are working on adding these states as data becomes programmatically accessible.
• It does not predict future prices. We report what is happening now and what happened before — we do not forecast.
• It does not account for shopper docket discounts or loyalty programme savings. The reported prices are the standard board price.
• It is not a wholesale or terminal gate price. Wholesale data would require a separate data set we do not currently publish.

For media and researchers

You are welcome to cite the HFPI in reporting, analysis, or research. When citing, please use:

"Helira Fuel Price Index (HFPI), helira.com.au. Data sourced from NSW FuelCheck, Victorian Fuel Price API, QLD Fuel Price Reporting, and WA FuelWatch. [Date accessed]."

If you need historical data, custom geographies, or want to discuss methodology, contact us at info@rabbiico.com.

Why transparency matters

Fuel pricing in Australia is opaque. Drivers see the price at the bowser but rarely understand why it is what it is, how it compares to other areas, or whether today is a good or bad day to fill up. The HFPI exists to make that information accessible, consistent, and honest about its limitations.

We will continue to expand coverage, improve methodology, and publish updates to this page as things change.