Brisbane drivers warned of petrol price hike as ‘super cycle’ looms

Brisbane is set to enter a fuel “super-cycle”, with the price difference at servos now equating to up to $26 dollars to fill up. SEE THE CHEAPEST, WORST LOCATIONS

Brisbane is set to enter a fuel “super-cycle” in the next few weeks with prices hiking up to $2.35 per litre.

But motorists can fill for less now with a 52 cent difference – a $26 dollar difference of filling up a 50 litre tank - between the cheapest and most expensive fuel prices across greater Brisbane.

SCROLL DOWN FOR BEST, WORST PLACES TO FILL UP

Recent data from Compare the Market revealed some of the cheapest fuel locations in greater Brisbane were Mega Fuels Rocklea at $183.9, Pearl Energy Moorooka at $184.5/L, Ampol Annerley at $184.9/L, 7-Eleven Fairfield Gardens at $184.9/L and 7-Eleven Greenslopes at $184.9/L.

Meanwhile the most expensive Coles Express Brisbane Airport at $235.9/L, Coles Express Virginia at $235.9/L, Coles Express Nudgee at $235.9/L, Freedom Fuels Nudgee at $235.9/L and BP Northgate at $235.9/L.

The price difference between Brisbane service stations on Thursday would equate to $26 when filling up a 50L tank.

Compare the Market’s Chris Ford said there was only a small window of opportunity before these high prices become the new norm across South East Queensland.

“The good news is that there are some stations that are yet to hike their prices, but they’re becoming few and far between as we approach the peak of the cycle. It’s up to motorists to take the wheel and fill up for less while they can,” he said.

“Brisbane’s fuel prices are on the increase again, following the last super-cycle that hit the city at the end of February.”

Mr Ford said nearly 120 stations had increased their prices to a new high of $2.35, with more expected to follow in the coming days and over the next week.

“This time last week, just 40 stations had raised their prices to the new high,” Mr Ford said.

“The average has slowly been creeping up again and is up around the $2.15 a litre mark. Just last Friday, the average was $2.01 a litre.”

According to Compare the Market a number of factors are contributing to the higher prices including oil benchmarks climbing dramatically since the turn of the New Year, up more than 17 percent, largely due to the continued unrest in the Middle East

“Sadly, we know that when one servo ups their price, others usually follow pretty quickly,” Mr Ford said.

Cheapest locations in Greater Brisbane

1. Mega Fuels Rocklea – 183.9

2. Pearl Energy Moorooka – 184.5

3. Ampol Annerley – 184.9

4. 7-Eleven Fairfield Gardens – 184.9

5. 7-Eleven Greenslopes – 184.9

Most expensive locations in Greater Brisbane

1. Coles Express Brisbane Airport – 235.9

2. Coles Express Virginia – 235.9

3. Coles Express Nudgee – 235.9

4. Freedom Fuels Nudgee – 235.9

5. BP Northgate – 235.9

Source: Compare the Market’s Simples App. Accurate as of 18/4/24. Prices may vary.