Money Fill up now: RACQ warns fuel prices to jump by 20 cents per litre in 'blink of an eye'

19:54  09 january  2018
19:54  09 january  2018 Source:   Brisbane Times

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The state's peak motoring body has urged south-east Queensland drivers to get in gear and fill up their fuel tanks as soon as possible, with prices expected to jump about 20 ¢ per litre . RACQ spokeswoman Renee Smith said the low point of the fuel cycle was expected this week

The state's peak motoring body has urged south-east Queensland drivers to get in gear and fill up their fuel tanks as soon as possible, with prices expected to jump about 20 ¢ per litre . RACQ spokeswoman Renee Smith said the low point of the fuel cycle was expected this week

South-east Queensland drivers should get to the bowser quickly or risk paying 20 cents per litre more.© Bloomberg South-east Queensland drivers should get to the bowser quickly or risk paying 20 cents per litre more.

The state's peak motoring body has urged south-east Queensland drivers to get in gear and fill up their fuel tanks as soon as possible, with prices expected to jump about 20¢ per litre.

RACQ spokeswoman Renee Smith said the low point of the fuel cycle was expected this week, but then prices were predicted to increase to almost $1.50 "in the blink of an eye".

Monday signalled day 33 of the petrol price cycle, with Ms Smith saying the days of "cheap Tuesday", when motorists knew the fuel prices would be low, were long gone.

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RACQ spokeswoman Renee Smith said the 145 cents per litre threshold had not been broken since August 2015. The RACQ have encouraged drivers to fill - up at the cheapest petrol station, regardless of whether it's an independent or multinational.

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The average at Brisbane bowsers on Monday was $1.35, but some service stations were selling fuel for $1.31 per litre.

"While prices around $1.30 per litre may not seem cheap to motorists, some might remember when prices were close to one dollar last year, due to wholesale prices at the moment once a service station drops below $1.30 we will be considering that as cheap," Ms Smith said.

Service stations north of Brisbane in the Moreton Bay region were selling fuel for about $1.25 per litre, but these prices were not expected to last for long.

Ms Smith said the low and peak of the fuel cycle could happen in the same week, but when the prices do go up, either this week or next, it will be a 20¢ jump without warning.

Brisbane hit with most expensive petrol in three years

  Brisbane hit with most expensive petrol in three years The latest RACQ data reveals Queenslanders continue to pay more at the bowser.Brisbane has been slugged with the most expensive unleaded petrol prices in more than three years.

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“Average prices in the GTA will have gone up over 20 cents per litre compared to this time last year, so it’s a pretty big hit,” Dan McTeague of GasBuddy.com said. The current average price in the area is about 115.9 cents per litre .

"Prices will go up sharply and are likely to go into the high $1.40s but we don't expect them to hit $1.50 per litre," Ms Smith said.

"At the last peak, prices were just over $1.49 per litre, but we hope it will be a few cents per litre cheaper this time.

"When cycles do turn and go into the peak, it is without warning and catches motorists by surprise, so drivers need to fill up this week in south-east Queensland because prices can go up in the blink of an eye."

According to fuel price comparison app MotorMouth, the cheapest unleaded fuel near the greater Brisbane area on Monday could be found at Puma in Narangba (122.7¢ per litre), 7 Eleven at North Lakes (123.2¢ per litre) and Caltex in Burpengary (123.7¢ per litre).

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Source: http://au.pressfrom.com/news/money/-51679-fill-up-now-racq-warns-fuel-prices-to-jump-by-20-cents-per-litre-in-blink-of-an-eye/

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