Fuel prices hike to a 15-month record hike: RACQ

As a number of Brisbane fuel retailers hiked prices to a 15-month record high, RACQ has warned drivers not to delay filling the tank if they spotted a good deal.
Fuel pump nozzles

RACQ spokesperson Clare Hunter said 25 service stations (5.2 percent) in the River City were now selling regular unleaded for 171.9 cents per litre (cpl). 

“Brisbane is entering the price hike phase of the local price cycle with BP and Coles Express retailers the first to lead, selling unleaded for a staggering 171.9cpl,” Ms Hunter said. 

“Drivers are copping these eye-watering prices from Brisbane to the Gold Coast, around Logan as well as Mango Hill and Kallangur and the inner city in Newstead and Wooloongabba.

“We haven’t seen a hike this high since March 2020 immediately before the onset of the COVID pandemic so the message for drivers now is to fill up before the other servos follow suit.”

Ms Hunter said it was frustrating fuel companies had again chosen to rip off drivers, as current global oil prices did not justify the increase.

“A price of 171.9cpl returns a massive 44.2cpl in indictive retail margins which is simply un-called for, so make sure you avoid these servos so you’re not getting hit with hip pocket pain,” she said.

“At the moment 55 percent of Brisbane retailers selling fuel for less than 130cpl, so use the apps and websites to find them, and take your business there.

“Fuel prices can vary drastically from suburb to suburb, and by using apps like RACQ’s Fair Fuel Finder you can find the cheapest places for fuel and avoid paying expensive prices when you don’t have to.”

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The information in this article has been prepared for general information purposes only and is not intended as legal advice or specific advice to any particular person. Any advice contained in the document is general advice, not intended as legal advice or professional advice and does not take into account any person’s particular circumstances. Before acting on anything based on this advice you should consider its appropriateness to you, having regard to your objectives and needs.