State’s peak motoring body has warned Brisbane drivers would soon be faced with a rude shock at the bowser as the latest cheap phase of the fuel cycle was coming to an end.
RACQ spokesperson Lauren Ritchie said after 12 days of cheaper fuel Brisbane retailers had started to hike to 160 cents per litre (cpl) or greater.
“For the last few days indicative retail margins fell below zero, meaning fuel companies have been selling for less than the average wholesale price – but the honeymoon period is over,” Ms Ritchie said.
“We’ve also seen 10 percent of the market hike to an eye watering 165.9cpl which is going to shock drivers at the pump.
“While this isn’t a record high price, it is dangerously close to it.”
Ms Ritchie urged drivers to aim to buy unleaded for 133cpl as there was still plenty of cheap deals available.
“Don’t delay filling up the tank because we expect retailers will want to recoup some costs so the hike could progress rapidly from here,” she said.
“There’s nothing to gain from waiting, you’ll only miss out on a cheap deal, so use those apps and websites available, like RACQ’s and fuel up without breaking the bank.”
Ms Ritchie said unleaded prices in Ipswich and on the Gold and Sunshine Coasts were still at the bottom of the cycle.
“Fuel in these centres is still at its cheapest but it could hike at any time so it’s best to fill the tank now and avoid getting caught out.”
Extracted from RACQ