Fuel prices skyrocket to record highs in SEQ

Media Release News Grabs

The cost of unleaded petrol (ULP) in Brisbane had soared to an average of 186.3 cents per litre (cpl), while a record was also observed on the Gold Coast at 187.2cpl. The average on the Sunshine Coast was 172.3cpl, with prices expected to go higher there next week.

RACQ spokesperson Renee Smith said 80 percent of service stations across Greater Brisbane were charging 186cpl or more for ULP. 

“A number of global factors are to blame for these staggering highs – with international supply and demand issues driving up oil prices and leading to high terminal gate prices. On top of this, the south east is in the expensive phase of the petrol price cycle,” Ms Smith said. 

“This perfect storm has led to motorists being charged 44cpl more at the pump compared with the same time last year – when the daily average price peaked at 142.1cpl.

“The good news is prices will likely fall soon as oil prices ease. It’s unlikely prices will go this high again next month at the peak of the next fuel cycle, which should be the last cycle ahead of Christmas.”

Ms Smith said fuel prices had also started to stabilise in regional Queensland, where there was no price cycle. 

“Drivers in regional areas have also been hit by record prices in recent weeks,” she said. 

“While those prices aren’t likely to creep higher, frustratingly for those in regional areas we’re not expecting prices get much cheaper ahead of Christmas.”

Ms Smith said it was more important than ever for drivers to do their research.

“The power is at your fingertips – so make sure you’re not being ripped off at the bowser. No matter where you live, or where you’re travelling to, use apps like RACQ’s Fair Fuel Finder to track down the service stations with the best deals.” 

New record daily average prices for unleaded petrol:

* Brisbane prices may creep marginally higher today (Friday 26 November).
**Sunshine Coast prices remain below the October 2021 record. They will continue to increase for several days and are likely to hit a new record high next week.