South East Queensland's fuel price cycle explained
You may have noticed unleaded fuel prices in South East Queensland jump all over the place. One day they’re down and the next minute they’re up.
In August, unleaded petrol (ULP) prices at sites across Brisbane soared to an unprecedented 229.9 cents per litre (cpl).
This hike exceeded the previous record set in June 2022 of 224cpl for ULP.
RACQ’s quarterly fuel reports consistently show Brisbane has the highest fuel prices of the five major capital cities.
It may be hard to believe but there is some method to the madness and it even has a name – a fuel price cycle, and when you look closely prices follow a fairly regular pattern.
It’s believed South East Queensland’s fuel price cycle began back in the 1970s, when everyone was paid in cash on a Thursday and would immediately fill up the tank.
By the time Tuesday came around and the pay packet had dwindled, no one was filling up – so service stations introduced what we came to know as ‘Cheap Tuesday” which fuelled the beginning of the fuel price cycle.
Watch the video below to learn all about how the cycle works.
RACQ members can save at participating Caltex service stations*
Download RACQ’s Fair Fuel Finder app here.
*Conditions apply. Offer available at participating Caltex and Puma Energy service stations. Visit racq.com/caltex for details.
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.