RACQ’S annual fuel price report has been released and found the average retail unleaded and diesel price records were broken across Queensland in 2022.
The report showed Brisbane’s fuel prices rose the most, breaking the high fuel prices year, by 34 cents per litre for regular unleaded.
For the Sunshine Coast, although fuel prices were cheaper compared to Brisbane, their record high average daily regular unleaded price was 217.4, and 236.1 for the record high average daily diesel prices.
The Club’s Principal Economic and Affordability Specialist Dr Ian Jeffreys said although prices were record breaking in 2022, the fuel excise helped ease some of the pain for drivers.
“Without the excise cut, prices on the most expensive days in June would have been about 24cpl higher and the daily average in Brisbane may have spiked at about 246cpl for regular unleaded,” he said.
However, Dr Jeffreys said he is hopeful for Queensland’s fuel prices in the new year as international prices continue to drop.
“Thankfully, global prices have eased since and while fuel markets are extremely volatile, the future is looking brighter,” he said.
“We expect oil prices and retail fuel prices to be slightly lower this year compared to 2022, so hopefully motorists will enjoy some relief at the bowser.”