May I be picky and suggest that unless petrol is very cheap in Canberra at the moment (it certainly isn't in Melbourne), that you'll probably spend more than $55 on fuel? You know your car better than I do, but it sounds a rather mean estimate to me....
Other option is the bus/train from Canberra. Having looked at train fares to Sydney, this probably isn't a cheaper option, but it may be competitive, puts you in the city (Melbourne) and is a bit more "Fun". The V/Line webpage says Melbourne to Canberra is an 8 hour trip by bus/train (Bus Canberra to Aubury, Train Aubury to Melb).
Feel free to argue me down...I'm an addicted car-o-hollic and only take the plane when time restricts :)
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Other option is the bus/train from Canberra. Having looked at train fares to Sydney, this probably isn't a cheaper option, but it may be competitive, puts you in the city (Melbourne) and is a bit more "Fun". The V/Line webpage says Melbourne to Canberra is an 8 hour trip by bus/train (Bus Canberra to Aubury, Train Aubury to Melb).
Feel free to argue me down...I'm an addicted car-o-hollic and only take the plane when time restricts :)