You may have noticed unleaded fuel prices in South East Queensland jump all over the place. One day they’re down and the next minute they’re up.
RACQ’s quarterly fuel reports consistently show Brisbane has the highest fuel prices of the five major capital cities.
The main driver of this is the South East Queensland fuel price cycle, and when you look closely prices follow a fairly regular pattern.
It’s believed the price cycle began back in the 1970s, when everyone was paid in cash on a Thursday and would immediately fill up the tank.
By the time Tuesday came around and the pay packet had dwindled, no one was filling up – so service stations introduced what we came to know as ‘Cheap Tuesday” which fuelled the beginning of the fuel price cycle.
RACQ is advocating for market regulation to stamp out unfair and unjustified price hikes and shorten and flatten the cycle.
The Queensland Government confirmed it was considering RACQ’s proposals to regulate the fuel market, and we’re now working on modelling to help make market regulation a reality.
Watch the video below to learn all about how the cycle works.
Download RACQ’s Fair Fuel Finder app here.
*Conditions apply. Offer available at participating Caltex service stations. Visit racq.com/caltex for details.
Extracted in full from: https://www.racq.com.au/news/motoring/south-east-queenslands-fuel-price-cycle-explained
