How to save at the fuel pump across Queensland
As cars burn your hard-earnt income, here’s a simple way for South East Queensland motorists to save up to $25 at the pump, equating to possibly more than $1300 in yearly savings. Read our top tips here.
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As cost-of-living pressures continue to bite, motorists could be making yearly savings at the pump which equal the amount of an all-inclusive three-day Bali holiday.
Across southeast Queensland smart motorists seeking out lower prices are winning this week as unleaded petrol prices fluctuate between margins of 20-51 cents between the highest and lowest prices per litre.
At the highest margin, that’s a saving of $25 for a 50 litre tank of unleaded petrol, equating to more than $1300 savings a year for a tank a week.
Motorist filling up in Toowoomba could be either winning or losing with prices at the pump.
The city recorded the highest margin of a whooping 51 cents, with motorists filling up at the cheapest location saving up to $25 a tank of 50 litres.
Toowoomba’s main thoroughfare of James St became a fuel price slope, with the metro fuel price cycle clashing with its regional counterpart laying bare the practice of fuel price hikes.
Each kilometre of the 4.5km stretch of former highway adds $3 to each tank as you head east towards Brisbane.
In the state’s capital, 130km east of Toowoomba, the margin was the lowest, but still translated to a potential $10 in savings per tank.
Around southeast Queensland fuel prices from Petrol Spy and RACQ fuel finder tell a similar story.
In other areas of the region savings of $22 a tank can be made in the Gold Coast, $19 a tank in Ipswich and $18 a tank in Logan.
On the Sunshine Coast, the margin might not be as bad as Toowoomba but refueling comes at a higher cost which starts at 199.5 cents per litre right up to the highest price seen in the region of 230.9 cents per litre.
It could likely be more beneficial for Sunshine Coast motorists to drive up to Gympie just to grab some fuel, as the prices there start from 176.9 cents per litre which could save you $27 per tank.
When asked if there was a reasonable explanation for this petrol price disparity, RACQ economic and affordability expert Dr Ian Jeffreys was blunt.
“There is no good reason for any retailer to charge 55c above average wholesale price,” he said.
This week the average wholesale price of a litre of unleaded fuel sat around 173 cents per litre, 57 cents less than under highest selling price.
Dr Jeffreys explained that Toowoomba was in a unique position, straddled between the metro price cycle and the regional price cycle.
“In parts of Brisbane, Sunshine Coast and Gold Coast, the fuel prices run on a six week cycle,” he said.
Roughly every six weeks retailers will hike their prices and then slowly drop them to competitors’ rates, he said.
However in regional Queensland fuel prices will remain fairly flat and won’t move so much through the cycle, he said.
“In Toowoomba the major retailers are trying to enforce these cycles,” he said.
“You’ll notice that as you leave Toowoomba, prices will drop.”
The difference has never been starker and in the lead up to the state election, the RACQ are calling for the government to introduce regulations into the fuel market which would ensure such dramatic price spikes end.
“This wouldn’t affect retailers with the cheaper prices,” Dr Jeffreys said.
We complain about electricity price hikes but where is the uproar over petrol prices in a state where 94.3 per cent of households own at least one car and 65 per cent of people travel by car to work each week?
How can you save up to $1000/year at the pump?
1. Use a petrol finder app or website
RACQ fair fuel finder
Petrol Spy
Fuel Radar
Fuel Price Australia
2. Give your business to cheaper petrol prices
If a fuel price feels ludicrously expensive, shop elsewhere, try to find a station that has regular, stable and reasonable petrol prices and give your business to them.
3. Put fuel regulation on the election radar
Vote in the RACQ poll about what you think should be on the election agenda.
While they can’t control the fuel price, regulation and monitoring programs, backed by legislation, are in use in Australia, such as FuelWatch in Western Australia, which implements the 24 hour rule.
Under this rule retailers must submit their prices each day and can not change them for the next 24 hours.
It also gives next day prices for more consumer power at competitive rates.
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