Fuel price reporting effects felt across Aus
RACQ research has revealed the four Australian capital cities with the lowest average indicative retail margins for unleaded petrol (ULP) in 2019 were also home to states which had transparent fuel price reporting schemes.
The Club’s research found Darwin had the lowest indicative retail margins for ULP at 3.9 cents per litre (cpl), followed by Perth at 9.2cpl, and Brisbane and Sydney with 10.7cpl.
RACQ successfully lobbied the State Government to trial the mandatory price reporting scheme in Queensland in 2018 to force all service stations to publicly release prices in real time.
RACQ spokesperson Renee Smith the mandatory fuel price reporting scheme was having a real impact on retail margins.
“Greater transparency is leading to greater competition, forcing retailers to drop their prices to try and get more drivers to fill up at their services stations over another one down the road,” Ms Smith said.
“We also saw the lowest margins on diesel were also observed in cities with mandatory fuel price reporting.”
Ms Smith said the trial in Queensland had given motorists the ability to make more informed decisions at the bowser.
“Now drivers have all the information they need at their fingertips and they should be using them every time they fill their tank,” she said.
“By using apps like RACQ’s Fair Fuel Finder, you can see where the cheapest fuel is in your area and save yourself money at the pump.”