Petrol price gouging at an all-time high

The Australian Competition and Consumer Commission has urged motorists to fight back against high petrol prices, after revealing fuel retail margins were at a record high.

The ACCC’s latest quarterly report found petrol prices in Brisbane, Sydney, Melbourne, Adelaide and Perth hit their highest levels since 2015, increasing on average by 12.6 cents per litre (cpl) to 135.1cpl.

Record gross retail margins had been blamed for the price hikes – with an average of 14.2cpl across the five major cities. That was the highest average margin recorded since the ACCC began monitoring prices and was more than 4cpl higher than the average over the past 15 years.

RACQ analysis revealed gross retail margins in Brisbane on Wednesday matched the all-time record high of 28cpl.

RACQ’s Renee Smith said enough was enough.

“This report confirms what we’ve all been thinking – we’re paying too much at the bowser because of the retailers’ greed,” Ms Smith said.

“We’re sick and tired of being ripped off. It’s time we use people power to send a message to those retailers doing the wrong thing.

“We need to demand lower prices by only giving our business to servos selling at a fair price. That will force those selling at higher prices to drop them.”

Motorists could check the fair fuel price for the area on the RACQ website.