Fuel prices plunge in Bundaberg and Hervey Bay

Unleaded fuel prices across regional Queensland have plunged by more than 40 cents per litre (cpl) in past six months, according to analysis released by RACQ.

RACQ spokesperson Renee Smith said Bundaberg recorded a huge reduction, with average prices falling by 44.4cpl from 138.4cpl in November last year to 94cpl in May 2020.

“Unlike south east Queensland, regional Queensland doesn’t have a price cycle and prices stay relatively steady, so to see this amount of change over a short period of time is quite incredible for drivers,” Ms Smith said.

“In the past six months we’ve seen fuel prices across Queensland fall, due to the drop in the global oil price, which was caused by the collapse in demand after COVID-19 and the Russia/Saudi oil price war.

“It was great to see the average fall below 100cpl in Bundaberg in May. It has been one of the cheapest places in regional Queensland to fill up this year, which is fantastic news for locals.

“Hervey Bay motorists also have reason to celebrate, with average prices dropping by 31.3cpl, from 140.4cpl in November last year to 109.1cpl in May 2020.

“The savings there weren’t as significant as what we saw in Bundaberg, as Hervey Bay has a less competitive market.”

Ms Smith said prices across regional Queensland had started to rise, as the global oil price had started to increase due to easing COVID-19 restrictions.

“We expect prices will steadily increase in coming weeks, and drivers should fill up while cheaper fuel is still available,” she said.

“While we can’t control the price of oil, we can control when and where we fill up. That’s why we urge drivers to make sure they use comparison services like RACQ’s Fair Fuel Finder to locate the best price near them.”