UPDATED: Three-year fuel price high now in reach: RACQ

RACQ spokesperson Renee Smith said more than 70 percent of Brisbane retailers hiked the price of unleaded petrol (ULP) since Friday.

“We’re now in the price hike phase of the south east Queensland petrol price cycle and of the 55 percent of Brisbane servos who’ve upped their prices, 48 percent have moved to 149.9 cents per litre (cpl), and seven percent to 151.9cpl,” Ms Smith said.

“It’s outrageous for so many servos to be charging 151.9cpl for ULP – at that price, their indicative retail margins are sitting at a whopping 27.5cpl.

“This is the first time we’ve seen such a significant number of servos move to 151.9cpl and if this trend continues, we could potentially see a three-year record high next week.”

RELATED: In-roads for transparent fuel price reporting.

Ms Smith said RACQ would keep up the fight for the introduction of a real-time fuel price reporting for Queensland.

“We’ll continue to push the State Government to introduce real-time fuel price data because currently only select retailers provide price information, making it difficult for drivers to know where the cheap locations are,” she said.

“A more transparent system will enable drivers to make decisions about which retailers they should give their business to. Not only will this help motorists to save money but it’ll force servos selling at a higher price to lower their bowser costs in order to get customers.”

Ms Smith said drivers in the south east should fill up today as some cheap fuel still remained.

“We know in the price hike phase of the cycle, cheap fuel can be gone in a matter of days,” she said.

“Luckily, there’s still some cheap fuel around Brisbane for under 130cpl so if drivers see these prices, fill up today.”

Drivers could visit RACQ’s Fair Fuel website for information on petrol prices in their area.