General manager of Bicycle Industries Australia Peter Bourke said the surge has led to motorists questioning their mode of transport.
“There’s no doubt every person walking into a bike shop is talking about fuel prices,” he told 3AW.
“When people actually do the numbers, in less than a year you’ve pretty much paid the bike off.”
The mass conversion comes weeks after e-scooters launched in Melbourne to mixed responses.
Increased use of both scooters and electric bikes is believed to be behind a spike in hospital admissions at Melbourne emergency departments.
It comes as users return to roads after lockdown, prompting an increase in emergency department admissions.
During lockdown, the Alfred Hospital reported a plunge in its usual trauma figures, with just half the number of typical cases.
However, this has climbed by 30 per cent since restrictions eased, with doctors acknowledging an increase in electric bike and scooter casualties.
Meanwhile, the pandemic and recent international conflict are being blamed for soaring petrol prices, with most pumps charging more than $2 a litre.
The insight comes amid hugely fluctuating fuel costs since Covid-19’s arrival, due to supply chain issues and people’s behaviour changing.
Prices initially bottomed out in the first wave when punters could expect to pay just 84 cents per litre.
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