Filling up the tank now might be the best deal you get for a while.
Fuel prices are on the up with unleaded increasing 8.5 cents per litre in Bundaberg in the past week and diesel lifting 11.6 cents per litre.
RACQ’s Tristan Vorias says it’s thanks to an increase in global oil prices.
“Around 1 million barrels per day have been slashed from supply,” he says.
“That combined with a little bit of economic growth and also demand for oil in importing countries being a little stronger than expected is driving those global oil prices up.
“Right now the price for a barrel of global oil, or brent crude oil, is around $86USD and we’ve seen that increase over the last two months by about 20 per cent.”
In more unfortunate news for motorists, prices are expected to keep climbing.
“We expect to see oil prices and therefore fuel prices rise slightly from the current levels that we’re seeing and then stabilise in the coming months,” Mr Vorias says.
“Unfortunately for motorists these higher prices are going to stick around for the foreseeable future until those oil prices come back down.”