Fuel prices plunge in Toowoomba and Warwick

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 average prices in Toowoomba fell by 37.1cpl from 141.6cpl in November last year to 104.5cpl 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.

“The monthly average didn’t fall as far in Toowoomba in that six month period as it did in some other parts of regional Queensland, but prices have been consistently lower in the garden city.

“In April, it was the second cheapest place in regional Queensland to fill up, with a monthly average of 102.3cpl.

“Warwick motorists also have reason to celebrate, with average prices dropping by 38.6cpl, from 143.7cpl in November last year to 105.1cpl in May 2020.”

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.”