Brisbane has the most expensive fuel prices among the five major capitals, according to the RACQ’s Monthly Fuel Price Report for April.
Brisbane’s April average for unleaded petrol was 147 cents per litre (cpl) – an increase of 8.5cpl from March.
According to RACQ spokesperson Lucinda Ross, Brisbane continued to suffer from a lack of competition amongst servos.
“It’s frustrating Brisbane drivers continue to cough up more than those in the other large capital cities,” Ms Ross said.
“It was also even dearer here last month than it was in the smaller cities of Darwin and Canberra, where prices are generally less competitive.”
Ms Ross also said there is some good news for Queensland drivers, as prices have hit the bottom of the cycle.
“Currently we’re in the cheap phase of the local petrol price cycle, so right across the region, motorists need to take advantage of lower prices now before they hike again,” she said.
Brisbane’s average price is higher than Adelaide’s (145.3cpl), Melbourne’s (146.3cpl), Perth’s (144cpl) and Sydney’s (146.2).
But it’s not the most expensive capital city in Australia. That honour belongs to Hobart, which recorded an average price of 149.5cpl, rising 7cpl from March.
Darwin and Canberra are the two cheapest, recording April averages of 141.2 and 143.7 respectively.
Prices rose in every capital city, and Ms Ross said a combination of factors are to blame.
“Fuel companies increased margins by 4cpl last month, while oil prices recently reached record highs for 2019,” Ms Ross said.
“Low retail margins had been taking the edge off oil price increases so far this year, however, we now have fuel companies upping their margins to the detriment of motorists.”
Average fuel price per city – April
The table below shows the average unleaded petrol price in each capital, as well as the increase from the previous month and the average margin the retailer takes in that city.
It also shows how much the average family car will cost to fill up, based on a fuel tank size of 60 Litres.
|City||Average ULP price (cpl)||Average ULP price – increase from March (cpl)||ULP retail margin (cpl)||Cost for the average family car (60 Litres)|
Based on the RACQ’s data, the average unleaded petrol cost across all major cities in April was 145.4cpl, and would cost the average family car roughly $87 to be filled.
Average diesel price – April
Diesel prices are on the rise also, but this time Brisbane is on the lower end of the scale.
The average diesel price across the capital cities is more than $151, a slight increase of more than two cents from March.
|City||Average Diesel price (cpl)||Average Diesel price – increase from March (cpl)||Diesel retail margin (cpl)||Cost for the average family car (60 Litres)|
Petrol and diesel prices have been fluctuating wildly lately.
In its Fuel Price Report, the RACQ says it is difficult to predict oil price movements going forward.
The main reasons noted are:
- Reduced oil supply from Venezuala and Iran to the United States (due to political unrest and US sanctions against both)
- New OPEC+ production cuts
- Falling production in the US
- RBA holds cash rate at 0.25% for June
- 7 in 10 Australians think we'll be in a recession in the next 12 months
- Up Bank data shows how peak-isolation changed spending habits
- Coles launches 'Flypay' payments platform
- Will the RBA change the cash rate in June?