Automakers will also be required to cut car emissions by 55 per cent in 2030. Only car brands producing fewer than 1000 vehicles a year will be exempt from the new law.
What will happen to classic cars after the petrol and diesel ban? It will still be possible to buy and sell classic cars after the ban on new vehicles comes in. However, classic car enthusiasts should keep in mind the long-term aim is to reach a future where there are no petrol or diesel cars on the roads.
The new law would see the sale of new petrol and diesel cars banned across Europe by 2035, to support the goal of a carbon-neutral transport sector by 2050.
Diesel cars will be banned in the future with the Committee for Sydney announcing plans to ban diesel cars in 2027. Meanwhile, the Australian Capital Territory (ACT) has announced that the end of petrol and diesel vehicle sales will be 2035.
Petrol cars would be phased out by 2027 under the plan. “NSW's climate policies are leading the nation, but this research is a wakeup call that Sydney's not on track for net zero – we've got plenty of work to do,” committee spokesman Sam Kernaghan said.
Australian motorists may have little choice but to buy an electric vehicle within 12 years, experts say, after Europe effectively banned the sale of petrol and diesel cars by 2035.
The Committee for Sydney has announced its plan to ban the sale of new petrol and diesel cars by 2027 in a bid to reach net zero emissions by 2050.
Pros of buying a diesel car
Due to diesel engines' increased fuel economy, you can get up to double the kilometres out of a tank, meaning less trips to the service station. Diesel fuel is less prone to price fluctuations than petrol. Some diesels are even more economical than hybrids and are cheaper to buy.
To meet Australian demand, 60% of diesel is currently imported from Asia. Australian refiners must price diesel to be competitive with imports from Singapore and the Asian region (so called 'import parity'). no commercial incentive to import the diesel needed here (because sales of that fuel would be at a loss here).
As LPG vehicles disappear from Australia's roads, remaining drivers struggle to find fuel. Range anxiety is usually associated with electric vehicles, but owners of LPG vehicles are worried about where to find their next tank of fuel as the number of gas-powered vehicles steadily declines.
In November 2021, the Indian government was amongst 30 national governments and six major automakers who pledged to phase out the sale of all new petrol and diesel vehicles by 2040 worldwide, and by 2035 in "leading markets".
Predictions vary and largely depend on consumption rates, but experts estimate that it will be between 90 and 120 years before we run out of natural gas.
At the current rates of production, oil will run out in 53 years, natural gas in 54 years, and coal in 110 years, according to estimates from the 2015 World Energy Outlook study by the International Energy Agency.
The ACT is the only state or territory to announce a ban on petrol and diesel car sales by 2035 to date, though energy giant BHP has put forward a similar proposal, and the Committee for Sydney proposed a ban on petrol and diesel vehicles in 2027.
Generally, electric vehicle batteries last 10-20 years, but some factors may reduce their lifespan. For instance, batteries may degrade faster in hotter climates as heat does not pair well with EVs.
The general consensus among Australian classic car clubs is that classic cars are vehicles built before 1990, in the following five categories. Veteran: manufactured prior to 1918. Vintage: manufactured between 1919 and 1930. Post Vintage: manufactured between 1931 and 1949.
IBISWorld forecasts average retail diesel prices to rise by 21.5% in 2022-23, to 212.2 cents per litre.
“International benchmark prices and the value of the Australian dollar have the most influence on the price consumers pay for fuel,” the ACCC said on its website. “Pricing decisions by wholesalers and retailers, and levels of competition in different locations [also] influence fuel prices.”
Maintenance cost.
Diesel engines generally need less frequent maintenance than gasoline-powered vehicles. But when service time comes, diesel usually costs more to repair or maintain. Be prepared for higher recurring costs, even if they come less often.
As the world continues to transition toward cleaner energy sources, diesel fuel is also evolving to become more sustainable. Renewable diesel, for example, is a type of biofuel that is made from renewable resources, such as vegetable oils and animal fats, and runs cleaner than standard, ultra-low-sulfur diesel.
Most cars around the 200,000-kilometre mark and above with a reliable service history should be an excellent purchase if the price is right.
"You can get up to maybe 250,000 km or 300,000 km before a gas engine starts to make noise, or burn oil because it's wearing out, but a diesel can quite easily do 500,000 km and still be in excellent shape," says one certified mechanic I spoke with.
The 2035 date refers to the end of petrol and diesel new-car sales – referred to as to "start phasing out light internal combustion engine vehicles from 2035" – rather than used ones.
From 1 July 2023, the Minimum Stockholding Obligation will require Australia's 2 refineries, and our major importers of refined fuels, to hold baseline stocks of: petrol; 24 days, increasing to 27 days in 2024 for importers. diesel fuel; 20 days, increasing to 32 in 2024 for importers.
World Oil Reserves
The world has proven reserves equivalent to 46.6 times its annual consumption levels. This means it has about 47 years of oil left (at current consumption levels and excluding unproven reserves).