RACQ: Fill up the tank ahead of unwarranted hike

RACQ has warned motorists to fill up the tank now, after fuel companies in Brisbane and Ipswich started to hike their prices extremely early in the cycle.

Club spokesperson Lauren Ritchie said at 11am today, 5.5 percent of sites in Greater Brisbane had hiked their unleaded petrol (ULP) prices to 147.9 cents per litre (cpl).

“This hike was started by Coles Express when they started to increase their prices yesterday afternoon,” Ms Ritchie said.

“Put simply, this hike is unwarranted. Just like we saw during the last cycle, prices started to jump before we even entered the cheap phase.

“We had hoped prices would continue to fall over the weekend, before a possible hike early next week and now motorists are being ripped off.”

Ms Ritchie said the high price of 147.9cpl returned a massive indicative retail margin of 41.8cpl for fuel companies.

“Despite the hike, there’s still plenty of cheap fuel available in the south east and motorists should fill up straight away at sites offering a cheap price to avoid being ripped off,” she said.

“If you’re in Brisbane, Ipswich and the Gold Coast, the majority of sites are still selling ULP for 112cpl or less, so jump in and fill up now.

“It’s also a good idea to use apps like the RACQ Fair Fuel Finder, to make sure you’re getting a good deal.”