As at 11am on Thursday, 25% of fuel sites in Greater Brisbane were charging the new record price – with more set to follow in the coming days. 

RACQ General Manager of Advocacy Joshua Cooney called on fuel companies to explain why prices were so high.

“Indicative retail margins usually sit around 35cpl during the expensive phase of the fuel price cycle but this time they’re hovering around 44cpl,” Mr Cooney said.

“This hike now exceeds the previous record set in June 2022 of 224cpl for ULP, yet the global oil price has fallen since that time.

“RACQ’s quarterly fuel reports consistently show Brisbane has the highest fuel prices of the five major capital cities.

“Sydney and Melbourne motorists have also experienced a recent spike, yet their prices hovered at 224.9cpl. Why are Brisbane motorists being slugged more? We need an answer from fuel companies.

“During this cost-of-living crisis, we’re urging fuel companies to be fair to motorists and set their margins at a reasonable rate. This is not the time to be profiteering off motorists already doing it tough.”

Mr Cooney said now is the time to fill the tank before more sites hike their prices.

“The good news is just over 60% of sites are still selling regular unleaded for 189cpl or less, so don’t reward the expensive sites with your business.”

For those driving a family-sized SUV, filling an 80-litre tank at the cheapest site (185cpl) compared to the most expensive (229.9) would save you $35.

Always use apps like RACQ’s Fair Fuel Finder to find the cheapest sites near you.