Fill up the tank now before cheaper fuel disappears: RACQ

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RACQ spokesperson Nicky Haydon said at 11am on Friday 33 sites (6.7%) across Greater Brisbane were charging 224.9 cents per litre (cpl) for regular unleaded petrol (ULP) and others are expected to follow.

“If your tank is getting low, now’s the time to head to the bowser because we are seeing new record prices in the Brisbane area. While we don’t expect the price to go above 224.9cpl this fuel cycle, we will see more and more fuel companies hike to this price,” Ms Haydon said.

“We’re also seeing early signs of a price hike in Ipswich and the Gold Coast. There’s currently no evidence of a hike on the Sunshine Coast or in Toowoomba, but this could change quickly so don’t delay filling up.

“The good news is, there are still plenty of more reasonably priced sites available across Brisbane - do your research and look for those companies charging 195cpl or less.”

Ms Haydon said the increase was part of the south east’s regular price cycle, but prices were being exacerbated by unprecedented global events.

“There are a number of factors leading to these incredibly high fuel prices. We currently have a very volatile global oil market due to the war in Ukraine and sanctions continually tightening against Russia,” she said.

“We also have ongoing supply issues, OPEC’s production is not meeting global demand and all these factors are contributing to what we’re paying at the bowser.

“In regional Queensland, where there is no price cycle, prices are relatively stable.”

Ms Haydon urged drivers not to support the companies charging 224.9cpl.

“It’s so important to do your research before filling up, use apps like RACQ’s Fair Fuel Finder to track down the best deals near you.”