Brisbane claims most expensive fuel title again

Brisbane was named the most expensive of the five largest capital cities in Australia to fill the tank in October, according to the State’s peak motoring body.

RACQ’s October 2019 Fuel Price report revealed motorists in the River City paid on average 154.7 cents per litre (cpl) for regular unleaded petrol last month, up 10.3cpl from September. 

Club spokesperson Renee Smith said the increase was due to the shortening of the price cycle leading to two high points in October.

“Price cycles usually last for about a month, but the last cycle was only about 23 days long, which meant we saw two peaks last month,” Ms Smith said. 

“Both hikes were led by the major fuel companies, BP, Coles, Caltex and Woolworths, who’re all too often the first to hike, and lift their prices to the highest levels.

“Similar effects were felt on the Gold Coast which drove up the average price increasing by 12.6cpl to 153cpl in October.

“The good news for drivers was it took longer for retailers to jack up the costs, and prices fell back down quicker. We saw the small chains and independents holding lower prices for longer, meaning drivers had greater access to cheaper fuel.

“These changes are likely a result of increased competition driven by the introduction of the Queensland Government’s mandatory fuel price reporting scheme.”

Ms Smith reminded drivers to do their research and always buy from the cheapest retailers.

“We’ve never had so much technology available through price comparison apps like RACQ’s Fair Fuel Finder, which allow us to find the cheapest retailers. By shunning the high-priced retailers, fuel companies will be forced to compete for business and lower their prices.”

The Club’s October 2019 Fuel Price Report could be viewed on RACQ’s website.