Make mandatory fuel price reporting permanent in Toowoomba
RACQ spokesperson Renee Smith said Toowoomba bowser prices had stayed reasonably low in recent months and the region remained competitive due to smarter shopping by drivers.
“In areas such as Toowoomba, motorists are making more informed decisions and supporting servos offering the best deals thanks to access to real-time fuel prices,” Ms Smith said.
“In combination with lower oil prices, this has resulted in cheaper retail prices for motorists.
“Making use out of this data, takes the work out of driving around to find the cheapest fuel. Or even worse, filling up at the one closest to you which may be the dearest.”
RACQ research showed the monthly average price of unleaded petrol (ULP) in Toowoomba fell from 147.7 cents per litre (cpl) in February to 102.3cpl in April due to COVID-19 and a price war between Saudi Arabia and Russia.
Ms Smith said while the global oil price had since recovered somewhat, Toowoomba prices were still relatively cheap with an average ULP price of 123.7cpl in August.
“We applaud locals for shopping around, making use of real time fuel pricing data, and using people power to drive down prices,” she said.
“The increased competition in Toowoomba has also led to the emergence of price cycle behaviour. While it can add to consumer uncertainty and frustration, it allows those who follow the cycle to buy fuel close to wholesale prices.”
Ms Smith said the Club successfully lobbied the State Government to trial the scheme in Queensland and would continue to fight to ensure motorists received a fair deal at the bowser.
“Ensuring real time fuel pricing data is here to stay is one of our key priorities ahead of the next month’s election and one that’ll put more money back into the pockets of Queenslanders at a time when it’s needed the most.”
RACQ’s Fair Fuel app has been downloaded more than 135,000 times and has more than 37,000 active users every month.
Related topics
-
The information in this article has been prepared for general information purposes only and is not intended as legal advice or specific advice to any particular person. Any advice contained in the document is general advice, not intended as legal advice or professional advice and does not take into account any person’s particular circumstances. Before acting on anything based on this advice you should consider its appropriateness to you, having regard to your objectives and needs.
Insurance products (excluding Travel Insurance) are issued by RACQ Insurance Limited ABN 50 009 704 152 (RACQ). Conditions, limits and exclusions apply. This is general advice only and may not be right for you. This information does not take your personal objectives, circumstances or needs into account. Read the Product Disclosure Statement (PDS) and any applicable Supplementary PDS before making a purchase decision on this product. You can also access our Target Market Determinations on this website.
Banking and loan products issued by Members Banking Group Limited ABN 83 087 651 054 AFSL/Australian credit licence 241195 trading as RACQ Bank. Terms, conditions, fees, charges and lending policies apply. This is general advice only and may not be right for you. This information does not take your personal objectives, circumstances or needs into account. Read the disclosure documents for your selected product or service, including the Financial Services Guide and the Terms and Conditions, and consider if appropriate for you before deciding.
Except for RACQ Bank, any RACQ entity referred to on this page is not an authorised deposit-taking institution for the purposes of the Banking Act 1959 (Cth). That entity’s obligations do not represent deposits or other liabilities of RACQ Bank. RACQ Bank does not guarantee or otherwise provide assurance in respect of the obligations of that entity, unless noted otherwise.
RACQ Operations Pty Ltd (ABN 80 009 663 414 AR 000234978) and Members Travel Group Pty Ltd (ABN 45 144 538 803 AR 000432492) are acting as an Authorised Representative of the issuer of the insurance, Tokio Marine & Nichido Fire Insurance Co., Ltd. (ABN 80 000 438 291 AFSL 246 548). Any advice set out above is general in nature only, and does not take into account your objectives, financial situation or needs. Before purchasing any travel products, please consider the RACQ Travel Insurance Product Disclosure Statement (PDS) and the Target Market Determinations (TMDs) that apply to these products. Whilst the PDS outlines the Terms and Conditions of these products, the TMDs outline the intended class of customers that comprise the target market for these travel products. This will allow you to consider which products best suit your objectives, financial situation and needs and consider the products appropriateness to your personal circumstances. TMDs also outline matters involving the distribution and the review of these products. The PDS, Supplementary PDS and TMDs for each travel product can be found here.