RACQ slams fuel companies for outrageous price hike

The State’s peak motoring body has called out greedy fuel companies who had upped the price of unleaded so high in Brisbane, they enjoyed the largest retail margins ever seen.

Fuel pump

Brands like 7-Eleven, BP, Caltex and Coles Express had been part of the first five percent of the City’s service stations to hike their petrol prices to 165.9 cents per litre (cpl), which delivered an indicative retail margin of more than 40cpl.

RACQ spokesperson Lucinda Ross said it was unforgivable, particularly given the global oil price had dropped to its lowest point since January.

“Global oil prices have fallen through the floor in the past month – they’ve dropped by a whopping US$13 a barrel – so the fact fuel companies aren’t passing on the same savings to drivers is simply a rip off,” Ms Ross said.

“We’re seeing some of the major players lead this hike, and we’d urge drivers to shun them.”

Ms Ross said as the price hike commenced in the south east, drivers needed to get out and fill the tank while there was still some cheap fuel available.

“We know there are still plenty of bargains around under 130cpl, and it’s critical locals take advantage of these deals and head to the bowser before the rest of the market joins this price hike,” she said.

“Download our Fair Fuel Finder app for information on where the lowest prices are in your area.”