Greedy fuel companies rake it in from E10 sales
Since January 2017, large retailers were required to meet the Queensland ethanol mandate, ensuring three percent of fuel retail sales each quarter were bio-fuel based.
RACQ spokesperson Renee Smith said with a differing excise rate between E10 and regular unleaded petrol (ULP), motorists should be paying at least four cents per litre (cpl) less for ethanol.
“Unfortunately, Brisbane motorists are being charged a measly 2.5cpl less for E10 than ULP,” Ms Smith said.
“If you multiply that by the volume of E10 used in Queensland in a single year, that leads to a whopping $8 million going straight into the pockets of fuel companies.”
Ms Smith said the ethanol mandate should have resulted in cheaper E10 prices.
“Fuel companies used to be able to justify charging a higher price for E10 by claiming it was a niche fuel. Thirty percent of all regular unleaded fuel sales now need to be E10, so that niche status is no longer relevant. The higher the volume produced, the lower the price should be,” she said.
“We’re urging motorists to be informed, shop around, and only give their business to retailers selling fuel for a fair price.”