08/06/2012

Gold Coast motorists are in luck over the long weekend, with unleaded petrol (ULP) prices expected to drop below 140cpl – the cheapest in four months.

RACQ spokesperson Joe Fitzgerald said it was a fortunate coincidence that the low point of the petrol price cycle lined up with the long weekend, bringing the average price of ULP down to 140cpl.

"Monday is expected to be the cheapest day to fuel up, with some sites offering prices as low as 137cpl," Mr Fitzgerald said.

"We’re advising motorists on the Gold Coast to fuel up over the long weekend, as prices are likely to start rising again on Tuesday or Wednesday.

"Judging from the lengthy fuel price cycles so far this year, it could be up to 13 days before we see the low point of the next cycle.

"While prices will continue to fall over the weekend motorists should jump if they see ULP for under 140cpl."

Mr Fitzgerald said ULP prices had been gradually dropping since mid-April when the fall in the international oil price started to affect prices in Queensland.

"The long term rolling average price of ULP on the Gold Coast has been falling for several weeks due to the drop in the oil price and we expect this downward trend to continue for several more weeks," he said.

"However we have not seen the drop in the oil price flow through to the regional centres that do not have a fuel price cycle, with the average price around 8cpl higher than on the Gold Coast."

The cheapest fuel sites in the south-east can be found on RACQ’s website at www.racq.com.au/fuel, alongside the Club’s latest monthly fuel price report.