Brisbane motorists urged to stock up as $2 petrol hits

Brisbane fuel is on the rise amid growing tensions in the Middle East.

Brisbane petrol prices are soaring. Picture: Paul Zinken/dpa via AP

Brisbane motorists are paying the highest amount for Unleaded 91 in Australia, as a national finance comparison company urges commuters to stock up amid growing tensions in the Middle East.

The price tag has hit a new high at more than 34 petrol stations across Greater Brisbane, locked in at an eye-watering $2.15 per litre.

It was currently the highest price across Australia’s capital cities, according to analysis by Compare the Market, which was unwelcome news for families as the school holidays loom.

Petrol prices in Brisbane have soared. Picture: NewsWire / John Gass

Eg Ampol Margate, 7-Eleven Mango Hill, BP Connect North Lakes, Caltex Loganlea and

BP Coopers Plains were all at the 215.9 price tag.

The citywide average for Unleaded 91 was currently sitting at $1.72 per litre, a 2.38 per cent increase since last Monday.

Compare the Market expert Chris Ford said that with the ongoing Middle Eastern conflict and the recently announced closure of the Strait of Hormuz, there was “a lot of uncertainty” around fuel prices.

“We’ve already seen the price of oil skyrocket and these costs will eventually hit motorists,” Mr Ford said.

“We’re currently about to enter our latest fuel pricing cycle in Greater Brisbane, so prices are already on the way up.

“But we’ll likely start to feel the impacts of what’s happening overseas in the coming weeks. Prices above the $2 a litre mark will likely become the new norm for the foreseeable future.”

Are we paying too much for petrol?

There were still locations selling petrol at a cheaper price, Pearl Energy Willawong and Acacia Ridge, Mega Fuels Rocklea, United Sherwood and Liberty Oxley were all hanging around the $1.50 range.

Mr Ford said now was the time to fill up the car, as the window of opportunity to nab a deal at the petrol pump shrinks.

“It couldn’t come at a worse time, with some schools already on holidays and many families across the southeast expected to hit the road for the winter break,” he said.

“The good news is there’s a small window of opportunity to fill up for less. We’re currently seeing a 65-cent difference between the cheapest and most expensive locations across the city right now.

“Some prices are still at that $1.50 per litre mark, which is a real bargain. That’s a huge difference which will start to disappear over the coming days and weeks. It equates to a $32.50 difference if you’re filling up a 50-litre tank, so the message is to fill up for less while you can.”

Originally published as Brisbane motorists urged to stock up as $2 petrol hits