Experts are ‘disappointed’ in retailers upping fuel costs despite drop in wholesale price

Petrol prices are almost back to the $2 a litre mark at some servos despite a drop in wholesale prices. Here’s where to find the cheapest petrol in Brisbane, and where to avoid

Fuel costs are back on the rise after weeks of relief with experts saying it’s “disappointing” to see retailers increase their margins despite the drop in wholesale prices.

Drivers are being urged to fill up sooner rather than later as the new price cycle has started to hit pumps in South East Queensland with prices rising to just under $2 per litre.

A fuel analysis from Compare the Market has found just under 10 retailers across Brisbane have already adopted the price rise to 199.9cpl for Unleaded 91, despite the citywide average sitting just above 160cpl.

The price hike is “disappointing” for Compare the Market’s Chris Ford, who said the national wholesale average has dropped to a three-month low of 159cpl.

“Our oil benchmarks have dropped considerably in the last month and that has flowed through to wholesale prices decreasing nationally, so it is disappointing to see retailers increase their margin here in South East Queensland,” he said.

“The Federal Government has indicated that the halving of the fuel excise will finish at the end of September, so motorists will soon be feeling a 22c increase per litre to their fill.”

As of Monday, the cheapest fuel can be found in the city’s southern suburbs including Kuraby with 151.9cpl and Rocklea at 154.9cpl.

But customers have been urged to shop around, as just streets away in Rocklea is the most expensive fuel in the south east corner at 199.9cpl.

Diesel is also well above the wholesale price of $1.84 in Brisbane with the average price at the pump costing $2.13 per litre.

Most expensive

199.9 Coles Express Birkdale

199.9 7-Eleven Birkdale

199.9 Freedom Fuels Thorneside

199.9 7-Eleven Cleveland

199.9 Coles Express Rocklea

Cheapest

151.9 Metro Kuraby

154.9 Mega Fuels Rocklea

154.9 JIO Underwood

155.5 7-Eleven Wishart

155.5 Liberty Sunnybank Hills

155.5 Liberty Karawatha