Fuel prices across southeast Queensland are likely to continue to soar as the average cost of unleaded hit an all-time highs across Brisbane and the Gold Coast on Monday.

The RACQ said the daily average price of unleaded was 173.5 in Brisbane and 173.3 on the Gold Coast, exceeding the previous all-time record highs from December 2019.

At 1pm on Tuesday, Caltex Woolloongabba was selling unleaded for 136.5 cents per litre while BP Windsor was charging 175.9 cents per litre.

On the Sunshine Coast, unleaded prices ranged from 139.9 cents per litre at United Bli Bli to 175.9 cents per litre at Coles Express Maroochydore.

RACQ Club spokeswoman Renee Smith slammed current high prices which she said were caused by a “triple whammy”.

We’re at the high point in the fuel cycle in SEQ, oil prices (in Australian dollars) are at a two year high and retailers have retained unreasonably high retail margins,” she said.

Caitlin Smollett at United Woolloongabba, which charged 84.9 cents per litre in April 2020. Today, they are charging 169.7 cents per litre. Picture: Adam HeadCaitlin Smollett at United Woolloongabba, which charged 84.9 cents per litre in April 2020. Today, they are charging 169.7 cents per litre. Picture: Adam Head

“During the pandemic servos had high indicative retail margins because so many people

weren’t driving so fuel sales volumes were low – but now sales are back to normal the fact

they’re still charging these exorbitant prices is frankly unfair.”

t comes as the RACQ Monthly Fuel Report for June showed Brisbane was the most expensive capital city to buy fuel in the country last month.

Brisbane unleaded had a monthly average cost of 150.3 cents per litre, 4.3 cents per litre more expensive than in Sydney and 13.5 cents per litre dearer than Adelaide.

“Oil prices and retail fuel prices are likely to continue to increase in the coming months,” the report said.

Renee Smith from RACQ. Picture: Steve PohlnerRenee Smith from RACQ. Picture: Steve Pohlner

A resurgence of COVID-19, especially one of the new strains, could significantly reduce demand and lead to falls in the oil price. However, if vaccine rollouts continue and become more widespread, and Covid retreats, the oil price will continue to strengthen.”

In regional Queensland in June, average ULP price was 140.7 cents per litre and average diesel price was 139.9 cents per litre.

Roma was the cheapest place in regional Queensland to buy ULP and diesel, at 134.1 cents a litre and 134.2 cents per litre respectively.

Ms Smith said drivers were urged to avoid the bowser during the high fuel period and to use RACQ Fair Fuel Finder to find a cheaper deal during the expensive phase.

The next cheap phase to buy petrol could take up to three weeks.

Extracted in full from: Petrol prices hit all-time high across Brisbane, Gold Coast | The Courier Mail

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