Queensland motorists are feeling the pinch of soaring fuel prices — and experts say they are set to climb even higher.
The state’s peak motoring body, RACQ, has warned that petrol prices are set to worsen in the coming weeks before easing in January.
“Unleaded prices in greater Brisbane have entered the expensive phase and are set to soar above 210 cents per litre in the first week of December,” economic specialist Ian Jeffreys said.
RACQ analysed fuel prices across south-east Queensland to identify the cheapest areas across the state. Here’s what it found.
Motorists in ‘most expensive’ phase of cycle
According Dr Jeffreys, the holiday petrol price cycle runs for about six weeks, with prices starting lower before steadily rising to a peak.
“Then slowly they [petrol stations] will discount their price until we get to another cheap phase,” Dr Jeffreys said.
While he said motorists were currently in the most expensive phase of the cycle — prices are expected to start easing from Christmas.
Economic specialist Dr Ian Jeffreys says the petrol price cycle runs for about six weeks. (Supplied)
“The average price in Brisbane [is] peaking at about $2.05 per litre [at the moment],” he said.
“By the time we get to the New Year period, we’re expecting the price to sit around the $1.80 to $1.90 price range.”
Why are prices fluctuating?
South-east Queensland has operated on a price cycle for “many decades now”, Dr Jeffreys said.
How to make the petrol price cycle work for you
Until about 15 years ago, the cycle typically played out within a single week, he added.
“It has since stretched from a weekly pattern to a cycle that now runs for about six weeks,” he said.
Dr Jeffreys said the length increase was due to several factors, including a saturated fuel retail market and increased competition on prices.
“It starts off cheap, then jumps up, then falls back down,” he said.
When should Queenslanders fill up?
While Dr Jeffreys could not pinpoint the best time to fill up, he said the lower price cycle was expected to start in January.
He encouraged motorists to use price comparison services and hunt for cheaper options before hitting the road.
“At the moment 10 per cent of sites are charging $1.70 or less [per litre],” he said.
“The majority of sites — 60 per cent or more — are up above $2.10.”So, where are the best areas to fill up?
Dr Jeffreys said some areas around greater Brisbane were bucking the price cycle, with “cheap clusters staying cheap regardless”.
In the northern suburbs, he said Bracken Ridge, Bald Hills, Deagon and Sandgate were hot spots for cheaper prices.
On the south side, he pointed to a “cluster” at Eight Mile Plains, Underwood, Slacks Creek and Capalaba.
Outside Brisbane, Southport on the Gold Coast was identified for its lower prices, while costs on the Sunshine Coast were more varied.
When should Queenslanders travel?
RACQ data shows traffic is expected to peak across south-east Queensland on December 19, 20, 22, and 28, as well as January 4.
“Sunday the 28th is expected to be the most congested day,” Dr Jeffreys said.
“Were expected to see peak traffic on Sunday the 4th.”
The M1 Highway on the Gold Coast is notorious for peak holiday time congestion. (ABC Gold Coast: Dominic Cansdale)
Travellers are advised to avoid these days if possible, or to hit the road before 10am or after 2pm.
“That’s when traffic is expected to peak so head early, as early as possible,” he said.
“Or delay your trip and head out in the evening.”