Finally some better news for motorists: petrol prices are dropping, according to the RACQ.

The cost of fuelling-up has skyrocketed over the past month, leaving many motorists pinching pennies and changing their habits just to keep their cars on the road.

With prices on the downhill, some regional areas could expect to see unleaded petrol under $2 per litre by next week.

RACQ spokeswoman Nicky Haydon says unleaded petrol and diesel are now in the “discount” phase.

“We’re seeing prices at the bowser drop by between 1 and 1.5 cents per day,” she said.

The price of diesel is also set to ease, but not as quickly as unleaded.(ABC News: Mark Reddie)

Some regions like the Gold Coast could expect to see fuel prices at $1.90 over the next 10 days after the price peak of $2.21, Ms Haydon said.

Those with diesel cars are also set to see a reprieve at the bowser.

“For diesel, it’s fallen by about 20 cents wholesale prices,” she said.

Overseas affairs fuelling ‘volatile’ price

Ms Haydon said several international factors, including Russia’s war in Ukraine, has caused “volatile” pricing.

She said China’s recent coronavirus lockdown had stemmed demand for fuel.

“When we saw Russia invade Ukraine, we had those dramatic spikes,” she said.

“Now China is in lockdown, which has dramatically affected demand, there’s not the demand on the market so we’re seeing the prices come down.

Those holding off filling up the tank may not need to wait too much longer.(ABC News: Danielle Bonica)

No fuel excise cut: RACQ

The federal government is considering whether to halve the 44 cent tax applied to every litre of petrol purchased, with some state leaders and MPs pushing for a tax cut.

Ms Haydon said the RACQ did not support a cut to the fuel excise.

“I know that’s difficult to hear when prices are so high,” she said.

“A 10 cent excise cut maybe a couple of dollars over a fuel tank of fuel, but it could lead to billions across the country that’s not being spent on our roads,” she said.

“When Queenslanders had the highest road toll last year, we don’t think this is the time to be cutting spending on roads, in fact we need more investment in our roads and road infrastructure.”

Extracted in full from: Fuel price relief imminent as ‘discount’ phase begins in parts of Queensland – ABC News

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