The Queensland Premier, David Crisafulli, has announced the state government is considering a cap on daily fuel price increases following a sharp rise in petrol costs that has reignited calls for intervention to alleviate cost-of-living pressures.
According to the RACQ’s Annual Fuel Price Report for 2024, motorists in Brisbane faced an average cost of 194.5 cents per litre for regular unleaded petrol, surpassing the previous year’s record by 1.4 cents. The report also identified Brisbane as the most expensive capital city in Australia for fuel.
In Western Australia, service stations are required to notify the state’s “Fuel Watch” system of their prices by 2pm daily. These prices are then fixed for 24 hours from 6am, allowing motorists to plan their purchases. This system appears to have had a positive impact, as Perth motorists paid an average of 13 cents less per litre than their Brisbane counterparts.
The RACQ has long advocated for Queensland to adopt a similar system, including a proposed daily cap limiting price increases to five cents. Premier Crisafulli confirmed his government is reviewing models like Perth’s to determine the best approach.
“There are mixed views on how effective these systems are, but we owe it to Queenslanders to explore every avenue,” Mr Crisafulli stated. “Our priority is to reduce the cost of living for households wherever we can.”
The Premier also called for a review of the state’s planning regulations to encourage greater competition among service stations, which could help lower prices at the pump.
While acknowledging the potential benefits of a daily price cap, Mr Crisafulli emphasised the importance of thoroughly assessing its effectiveness. “This is one of several measures we’re examining to address fuel prices as part of our broader commitment to easing financial pressures for Queenslanders,” he added.
Fuel Price Disparities Across Queensland
The report highlighted stark variations in fuel prices across Brisbane, with Milton being the most expensive suburb at 205.7 cents per litre, while Kuraby was the cheapest at 176 cents per litre. Other costly suburbs included Mount Ommaney (204.7), Jindalee (204.2), and Salisbury (203.3). Conversely, Deagon (178.5), Zillmere (183.7), and Moorooka (184.1) were among the least expensive areas.
Similar trends were observed in surrounding regions. On the Gold Coast, Coombabah recorded the highest average price at 203.3 cents, whereas Molendinar offered a significantly cheaper rate of 173.6 cents. In the Sunshine Coast region, Coochin Creek topped the charts at 204.9 cents, while Palmview was the most affordable at 177 cents.
Further afield, Longreach and Mount Isa were among the most expensive towns, with prices reaching 214.9 and 209.1 cents per litre, respectively. Dalby stood out as the cheapest town, averaging 175.6 cents per litre, followed by Gladstone and Bundaberg.
Calls for Immediate Action
Opposition transport spokesperson Bart Mellish criticised the government for delays, urging immediate action to provide relief to Queenslanders. “We’ve had over six months to consider this proposal,” he said. “The time for action is now. Every day of inaction means families are paying more at the pump.”
Meanwhile, RACQ economist and affordability specialist Ian Jeffreys echoed calls for intervention, citing increasing retail margins as evidence of market failure.
“Average retail margins for regular unleaded petrol in Brisbane rose to 21.4 cents per litre in 2024, up 4 cents from 2023 and 7 cents from 2022,” Dr Jeffreys noted. “This highlights the need for government regulation to curb unjustified price hikes.”
Dr Jeffreys also pointed to significant disparities between neighbouring suburbs, with Salisbury averaging 203.3 cents per litre, while nearby Moorooka offered a much lower 184.1 cents per litre.
There was, however, some relief for diesel users in 2024, with the average price dropping to 193.6 cents per litre—10 cents lower than the previous year.
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