Queensland government should introduce fuel price cap: experts

Experts have called on the Queensland government to step in as petrol prices soar across the state, and it’s expected to continue.

Queensland Premier Annastacia Palaszczuk has denied responsibility about the state’s soaring petrol prices despite fuel experts calling on the government to introduce a cap.

Motorists are being whacked 170 cents per litre for unleaded petrol at 80 per cent of service stations across Brisbane and the Gold Coast.

The RACQ said the daily average price of unleaded was 173.5 in Brisbane and 173.3 on the Gold Coast, exceeding the previous all-time record highs from December 2019.

Speaking on ABC Radio Brisbane, general manager of the FuelTrac petrol price monitoring service, Geoff Trotter, said motorists were being “ripped off” and the Queensland government should do something about it.

Fuel prices are set to reach record highs in Qld. Picture: Tertius Pickard / NCA NewsWire

Premier Annastacia Palaszczuk said she did not set fuel prices. Picture: Dan Peled / NCA NewsWire

“If the government was serious, they could put a cap on these companies and it wouldn‘t go above a certain level at any given time,” Mr Trotter said.

“We‘d do away with these petrol price shocks that hit us every few weeks.”

However, Ms Palaszczuk sidestepped the notion the government could step in.

She said Queensland’s current reporting scheme – a service also provided by the Australian Competition and Consumer Commission – lets consumers know the difference in prices across the region.

“I'm not in charge of setting the prices. The market sets that,” Ms Palaszczuk said.

“I don't think we can do anything more but at least people can shop around [for] where there is cheaper fuel in their local area.”

Originally published as Queensland government should introduce fuel price cap: experts