After months of cheap prices at the petrol pump, the RACQ has revealed fuel retailers in regional Queensland had backflipped and bumped up the average price of unleaded by more than seven cents per litre (cpl) in some areas.
RACQ’s latest Monthly Fuel Price Report found fuel companies in Rockhampton, Kingaroy and Childers had hiked their prices in August, after average indicative retail margins slipped close to or below zero in recent months.
The RACQ'S Renee Smith said it was disappointing the good deals had dried up for drivers, as fuel companies recouped costs through higher prices.
“We see this happen from time to time when competition levels are high, or when the terminal gate price increases, causing indicative retail margins to drop to zero,” Ms Smith said.
“Rather than fuel retailers making small or barely noticeable rises to their prices, they’ll make a single large increase where we see one company jump, with the rest of the pack to follow.
“Prices in Rockhampton rose to 141.7cpl, Kingaroy to 139.9cpl and Childers increased prices on average to 139.9cpl.”
Ms Smith said the price rise served as a timely reminder for drivers to shop around.
“Wherever you are in Queensland and whatever you put in your tank, do your research before you fill up and make sure you’re rewarding retailers with the lowest prices,” she said.
“Fuel is an incredibly volatile commodity influenced by many global factors which are out of our control, but we can all choose where we spend our money and do our bit to help keep prices down locally.”
The Club’s August 2019 Fuel Price Report could be viewed on RACQ’s website.
Regional centre Average price (August 2019) Average price (July 2019) Indicative retail margins (August) Indicative retail margins (July)
Rockhampton 141.7cpl 135.6cpl 7.3cpl 0.7cpl
Kingaroy 139.9cpl 132.5cpl 6.7cpl -1.2cpl
Childers 143.5cpl 137.1cpl 9.3cpl 2.5cpl