As at 1pm on Friday, 76% of service stations in Greater Brisbane were selling ULP for $2 or less, however four sites (or 1%) had hiked to $2.37 per litre.

RACQ Principal Economic and Affordability Specialist Dr Ian Jeffreys said drivers should not wait, as prices are not expected to fall much further.

“Never before have we said that prices in the $1.95 to $2 range were cheap but unfortunately this price cycle, that’s about as cheap as it’s going to get,” Dr Jeffreys said.

“OPEC’s decision to cut global production and a weaker Aussie dollar have led to increased wholesale prices and there’s no doubt fuel companies will pass this on to motorists in the coming days and weeks when they eventually hike their prices. 

“While we’ve seen the two BPs on the Bruce Highway and the Ampol in Burpengary already hike to $2.37 or $2.39, motorists need to know these sites are not the norm, they’re trying to drive the hike phase and they shouldn’t be rewarded with your business.

“For example, motorists filling an average 50-litre tank could save over $20 by filling up at the cheaper sites compared to the most expensive sites, so use the fuel comparison apps to find the best deal near you,” he said.

RACQ’s Fair Fuel Finder app shows at 1pm Friday the cheapest and most expensive sites in Greater Brisbane were: