Fuel prices sting more than most
FUEL retailers are ripping off people in North Queensland, with margin profits 10c per litre too high, according to RACQ.
RACQ recently released its monthly fuel report, revealing Brisbane’s prices had dropped to an average 141.1c per litre (CPL), which still remains more expensive than Sydney, Melbourne, Perth and Adelaide.
In comparison, the whole Cairns region is paying around 15c more per litre, including the Douglas region, with Port Douglas yesterday at 155.9 CPL.
RACQ spokesman Joe Fitzgerald said the high price is coming from retailers who are experiencing higher profit margins.
The average retail margin is at 22 CPL for the Cairns region, which a fuel expert from RACQ said is about 7-10c per litre too high.
Mr Fitzgerald said retailers are taking generous margins themselves and bumping up prices.
‘‘Fuel retailers took advantage of falling oil prices in April to fatten their wallets at the expense of regional motorists,’’ he said.
‘‘Motorists outside of the south-east have every reason to feel aggrieved at this kind of opportunistic treatment.’’
Fuel merchants and retailers Marano Fuels refused to comment yesterday.