For many years, SEQ motorists have faced eye-watering prices at the petrol bowser with record high fuel margins and unjustified price hikes. Brisbane is consistently the most expensive capital city for fuel.

As a motoring advocate for 119 years, RACQ knew more had to be done. The Club’s policy team analysed data of how fuel companies had changed their prices over three decades and devised the plan to cap daily increases to five cents per day.

Managing Director and Chief Executive Officer David Carter said the Premier’s announcement today that he would implement the regulation was a win for all motorists.

“With cost-of-living pressures affecting so many Queensland households, being able to plan and sustain your fuel budget is vital,” Mr Carter said.

“It will be a lot easier to fill up when you can see prices start to climb by five cents per day. Currently when the hike is on – prices jump by up to 50 cents in an instant and there’s no way of knowing when it will start or when prices will hit the cheaper phase again.

“This is particularly important for motorists living in the outer suburbs who drive long distances for their work, health appointments, children’s school or sporting commitments. 

“While the new 50 cent public transport trial is a great initiative, not everyone has access to reliable public transport, so we need greater stability – not excessive margins - in the fuel market to get Queenslanders where they need to be.”

RACQ research shows Greater Brisbane’s fuel price cycle has been stretched out to an average of 38 days – five times longer than what it was in 2010.

Back then, motorists had an opportunity to fill up at a cheap price every week, whereas now there are only around nine opportunities a year to get cheaper fuel. Retail margins have also doubled in this time and the price hikes are more than triple.

Perth’s fuel market is regulated and still operates on a weekly fuel price cycle, the price hike is not as dramatic and average retail margins are less than half. 

In RACQ’s State Election Priority poll 53.7% of respondents ranked Give us a fair go on fuel in their top three priorities while 18.6% said it was their number one priority.

RACQ is keen to explore longer-term options with bipartisan support to ensure the fuel price cycle is competitive and fairly priced.

Additionally, reports the Government plans to announce a single public transport authority for the south east is also welcomed news.

“A single authority will lead to more effective and efficient running of buses, trams, trains and ferries,” Mr Carter said.

“RACQ has felt for some time that SEQ’s public transport system is convoluted, marked by multiple agencies and organisations with overlapping roles and responsibilities.

“We need a fast-growing region like SEQ to have administration that sees state and local governments working closer together to provide better public transport services for residents.”