Bowser prices bounce back on Gold and Sunshine Coasts

RACQ has revealed the days of record cheap fuel were over, with fuel prices across south east Queensland (SEQ) increasing last month.

The Club’s June Monthly Fuel Price report found the average price for the Gold Coast was up by 14.1cpl to 117.4cpl and the Sunshine Coast average up by 10.7cpl to 118cpl, in just a month.

RACQ spokesperson Renee Smith said prices jumped across the State after oil prices steadily increased in May and June, but oil, now at $US 40 per barrel, remained substantially lower than the $US 60 per barrel we experienced in January. 

“It was good while it lasted but unfortunately the days of ULP for less than 100cpl are behind us for now,” Ms Smith said. 

“Oil prices were higher in June due to an increase in demand as Governments lifted COVID-19 travel restrictions. 

“At the same time, there was a substantial drop in oil supply due to the production cuts agreed to by the Organisation of the Petroleum Exporting Countries (OPEC) and their allies including Russia. There was also a dramatic reduction in US shale oil production.”

Ms Smith said there was some good news with Gold Coast the cheapest centre in SEQ to buy unleaded for the third consecutive month, followed by the Sunshine Coast.

“The good news for Gold and Sunshine Coast drivers is it was cheaper to fill up at home than Brisbane, which had an average price of 122.1cpl,” she said.

“If you’re going on a road trip make sure you check whether it’s cheaper to fill up at home or when you reach your destination.”

Ms Smith said SEQ was currently in the expensive phase of the unleaded price cycle and the latest average prices for Gold Coast was 137.7cpl and Sunshine Coast was 134.3cpl.

“Unleaded prices are high right now, so we’re urging drivers to avoid filling up if they can. If you do need to fill up use apps to find the best price possible and just buy enough to meet your immediate needs.”