Club spokesperson Clare Hunter said the average price for unleaded fuel in the River City last month was 146.2 cents per litre (cpl), which was 1.2cpl higher than in April.
“The last time we saw the average monthly price exceed 146cpl was in January 2020 during the very early onset of the COVID-19 pandemic,” Ms Hunter said.
“We saw prices drop significantly during the middle of last year’s lockdown but, since hitting a low monthly average of around one dollar per litre in April 2020, the average price of unleaded has been increasing month on month.
“We see this happening as oil prices recover from the economic downturn as well as a substantial increase in the indicative retail margins for fuel companies, which was an average of 18.1cpl last month compared to an annual average of 17.5cpl in 2020 and 10.7cpl in 2019.
“Brisbane was also the most expensive of the five largest capital cities for diesel with a monthly average of 136.5cpl, with only Canberra and Hobart having higher prices.”
Ms Hunter said unleaded prices across regional Queensland were also up last month.
“The average price for unleaded fuel outside of south east Queensland was 139.3cpl and 137cpl for diesel,” she said.
“For the fifth month in a row Miles took out the title as the cheapest regional centre for unleaded with a monthly average of 127.8cpl – more than 18cpl cheaper than Brisbane - while Noosa was again the most expensive place in Queensland for fuel at 154.4cpl.”
Ms Hunter said the on-going COVID-19 pandemic was having a mixed impact on oil prices.
“On one hand rapid vaccination programs overseas could lead to an increase in demand for oil and push up prices, but new strains of the virus are also hampering optimism,” she said.
“While drivers can’t do much about the global factors, they can be savvy about what they spend at the pump locally and make sure they’re filling up at the bottom of the fuel cycle in SEQ or supporting the servos keeping regional prices competitive.
“With apps like RACQ’s Fair Fuel Finder you can find where the best deals are in your area avoid paying more when you don’t have to.”