25/01/2012

Gold Coast motorists paid almost 15 cents per litre (cpl) more for unleaded petrol (ULP) in 2011 than in 2010, according to RACQ’s Annual Fuel Price Report, released today.

RACQ Executive General Manager External Relations Paul Turner said the average price of ULP on the Gold Coast in 2011 was in line with Brisbane prices at 142.5 cpl, which were up 14.9 cents from 2010.

“Fuel prices on the Gold Coast were higher than some other key regional cities, including Toowoomba (136.3 cpl), Bundaberg (142.1 cpl), Mackay (142.2 cpl) and Townsville (141.6 cpl),” Mr Turner said.
 
“It’s disappointing to see motorists on the Gold Coast and Brisbane pay 0.7 cpl more than Sydney motorists, 2.8 cpl more than Melbourne drivers, 1.9 cpl more than those in Perth and a whopping 3.6 cpl more than Adelaide, which is the cheapest capital city market,” Mr Turner said.

“Pump prices around the Gold Coast should be cheaper, given the region’s large market, higher volumes of fuel consumption, and that fuel is refined locally,” he said.

“The high price of unleaded petrol on the Gold Coast is largely due to the dominance of the major supermarket chains and the absence of a major discounter.”

Mr Turner said the price of ULP rose sharply in the first half of 2011 as a result of uncertainty in the international oil markets.

“We saw large spikes in oil prices which were caused by political unrest in North Africa and the Middle East and the impact of several natural disasters early in the year,” he said.

Volatility in the fuel price cycle in south-east Queensland made it harder for motorists to ‘shop smart’, with the fuel price cycle averaging 11 days and on some occasions 13 days.
 
“In past years when the fuel cycle has been predictable, motorists have proven themselves to be savvy shoppers,” he said.

“The erratic change in the cycle throughout 2011 reinforced the need for motorists to be vigilant about price trends so they can fill up on the cheapest days.”

The Annual Fuel price report also showed that Premium ULP stayed at about 10 cpl above regular unleaded fuel.

Gold Coast motorists who use diesel also forked out more in 2011.

Caloundra, Ipswich, Dalby, Caboolture, Maryborough, Warwick, Mackay, Toowoomba and Hervey Bay were all cheaper than Gold Coast, which averaged 147.1 cpl for diesel, in line with Brisbane, Sunshine Coast and Gladstone.

Townsville recorded the state’s cheapest diesel in 2011 at 145.3 cpl.

“Diesel can be up to 10 cpl more expensive than ULP on the cheapest day in the unleaded price cycle. However, the prices don’t have a price cycle like the unleaded price cycle. ” Mr Turner said.

The full Annual Fuel Price Report 2011, daily fuel price information and places to purchase cheap fuel are available at www.racq.com.au/fuel.
 
The RACQ’s annual survey of fuel prices is based on average monthly price data provided by independent fuel price monitors MotorMouth and FUELtrac Pty Ltd.