RACQ Head of Public Policy Rebecca Michael said the Club’s monthly Fuel Price Report revealed motorists also forked out almost 10 cents per litre (cpl) more on average for regular unleaded last month than they paid in February.
“Fuel will always be at the mercy of many global factors and lately we’ve seen Brent crude oil hit record high prices for 2019 selling at $US70 a barrel which was felt across most of our major capital cities,” Dr Michael said.
“But there’s some good news for Brisbane drivers as indicative retail margins dropped to 8.4cpl – around 3.4cpl less than the 2018 average for the third consecutive month.
“This suggests motorists are beginning to make more informed decisions about where they fill up their tanks, forcing service stations to be more competitive, and we can thank the fuel price reporting trial for that.”
Dr Michael said retailers have had since December last year to report their prices to a State Government appointed aggregator within 30 minutes of a price change at the pump.
“We’ve seen more than 48,000 downloads of our Fair Fuel Finder app since the start of the trial – so drivers are shopping savvy and we hope it will drive down those fuel prices in the long run.”
The Club’s March 2019 Fuel Price Report could be viewed on RACQ’s website.