Fuel price surge at region's bowsers

Motorists have been told to fill up now as surging oil prices hit the price of petrol at bowsers in the Moreton Bay Region.

Four fuel stations on the Redcliffe peninsula are, at the time of writing, selling unleaded U91 petrol for around $2.19.9 or $2.21.9 per litre.

According to petrolspy.com.au two more in North Lakes have followed suit with two now on Anzac Ave in Kallangur and two more along Dohles Rocks Rd, Murrumba Downs.

At the time of writing, one fuel station at Stafford was also selling fuel for $2.21.9 per litre with several towards Birkdale and Wellington Point.

Fill up now

RACQ is urging drivers to fill up with the price hike expected to impact more fuel stations in coming hours and days.

“While that price is only being observed at a handful of sites in Brisbane, unfortunately we’re expecting more locations to follow suit in the coming days," RACQ Club spokesperson Nicky Haydon said:

“The Russian invasion of Ukraine has led to a spike in oil prices in recent weeks, while ongoing international supply and demand issues, along with high Terminal Gate prices, are also continuing to have an impact and flow onto prices at the bowser.

“Oil prices remain incredibly volatile so we’re closely monitoring the situation.

Shop around

“Some regional centres are also trending towards 200cpl, but we shouldn’t see those prices hit for another week or so.

“The majority of sites in Brisbane are still charging 180cpl or less for ULP – that’s why it’s so important to shop around and buy now.

“Filling up at the cheapest sites compared to the most expensive, can save you at least $20 based on a 50-litre tank.

“No matter where you live in Queensland, do your research and use apps like RACQ’s Fair Fuel Finder to track down the service stations near you with the best deals.”

Forecast rise

Some of Australia's largest suppliers are reported to be refusing to place new orders for Russian-origin crude oil.

Crude oil prices were around US$130 a barrel earlier this week – reportedly a 13-year high - and almost double the cost at the start of 2022.

Petrol prices in the US were yesterday at a record high of US$4.17 a gallon.