The price of petrol is expected to sky-rocket to over $2 per litre soon, with motorists urged to fill up while it’s cheap.
Across the Gold Coast, prices are sitting at around $1.72 for unleaded on average today – according to Petrol Spy.
RACQ is warning that we’re unlikely to see prices go any lower for unleaded, with the southeast now in its cheap phase of the price cycle.
Lauren Cooney from RACQ says we’ll soon hit the first ‘expensive phase’ after the reintroduction of the full fuel excise.
“We expect prices may go as high as 210cpl in the next week or so,” Ms Cooney says.
“Queensland motorists haven’t seen prices that high since June, so now is absolutely the time to fill the tank while cheaper fuel is still widely available.”
Fuel excise was halved in Australia for six months to ease cost-of-living pressures by the previous government, but this has now come to an end.
RACQ is also advising motorists “shop around” and aim to pay about $1.75 per litre or less.
As for diesel, prices do not follow a fuel price cycle, and the full fuel excise is already causing prices to climb.
“Diesel is still incredibly expensive due to high wholesale prices, caused by a shortage in global supply,” Ms Cooney says.
“The bad news is we do expect diesel prices to jump even further as the re-introduction of the full fuel excise continues to flow through to the bowser and prices could go as high as 235cpl.”
