In Central Queensland it’s costing around $1.60 a litre for unleaded today and it could be the cheapest price for a long time.
RACQ spokesperson Nicky Haydon says the temporary cut to the fuel excise ends later this month and costs are expected to creep up in the coming days.
“Come September 28, the reintroduction of the full fuel excise will add around 25 cents per litre to the retail price of unleaded and diesel,” she says.
“Fuel excise is charged at a wholesale level, so we should not see fuel prices jump by 25cpl everywhere across the country overnight. The increase will only be applied to new stock fuel companies purchase after September 28, not to the fuel that is already in the ground.”
Ms Haydon says based on the current global oil price and lower wholesale prices, even when the full fuel excise is reintroduced, motorists shouldn’t see a return of the record highs experienced in March and June.
“The global oil price is now around $20 per barrel less than it was in March so we don’t expect bowser prices to hit 224.9cpl again,” she says.
“Our message to motorists is to plan ahead for this excise to return. Fill up now while prices are low and use apps like RACQ’s Fair Fuel Finder to make sure you’re getting the best deal.
“You definitely don’t want to have an empty tank on September 28.”