Qld drivers slugged by record high fuel retail margins

The State’s peak motoring body has revealed Queensland drivers had been slugged at the petrol pump as retailers charged some of the highest margins on record.

Money in car petrol tank

RACQ spokesperson Lucinda Ross said fuel companies in Queensland had skimmed up to 24 cents per litre (cpl) more than they should.

RELATED:  Regional servos dragging heels in dropping prices

“We’ve done the math, and what we consider a fair retail margin is about 6cpl in the south east, and eight to 12cpl in regional centres,” Ms Ross said.

“The reality is that the majority of retailers across Queensland are currently charging more than double these amounts.”

Ms Ross said while regional Queensland retailers had siphoned the most money from motorists, inner-city drivers had also been stung.

“Biloela, Blackwater and Mareeba had the highest margins of more than 30 cents per litre, closely followed by Innisfail, Emerald and Cairns,” she said.

“Brisbane drivers aren’t any better off despite last month enjoying the cheapest unleaded prices since March –  they’ve now seen indicative retail margin prices skyrocket to an all-time record high of 31.3cpl in the current price hike.”

Ms Ross said with the current low global oil and wholesale prices, retailers had no excuse not to be passing savings onto their customers.

“With the launch of our Fair Fuel Finder app, we’re making it easier for motorists to find those retailers offering the best deals and allow them to reward them accordingly. It’s the key to driving down prices,” she said.

It came after an Australian Competition and Consumer Commission report found motorists could save hundreds of dollars if they filled up at the bottom of the price cycle and at the cheapest retailers.