City’s fuel price to hit 29- month high
TOWNSVILLE fuel prices could reach more than 140.1c per litre tomorrow following the announcement of a 29-month high across the state.
This is 10c per litre less than Brisbane’s expected 150.1c per litre.
RACQ communications manager Joe Fitzgerald encouraged Townsville motorists to fill up as soon as they could.
‘‘ Townsville drivers are selective and buy on price and not because of the petrol station,’’ he said.
‘ ‘ T o w n s v i l l e i s t r a d i t i o n a l l y cheaper than Brisbane because of the presence of the independent fuel stations. The stronger the competition means the less fuel margin major retailers think they can get away with,’’ he said.
Mr Fitzgerald said the anticipated average unleaded price of 147.1c a litre or higher in Brisbane represented the highest price rise since September 2008.
The February average for Townsville was 136.1c per litre, Cairns was 137.1c, Rockhampton 137.3c and Mackay was the cheapest regional area at 134.8c per litre.
Mr Fitzgerald expected Townsville’s average fuel price to reach 141c this weekend.
Tuesday was the most expensive day in the seven-day fuel cycle and this meant motorists who bought fuel on this day could have paid up to an extra 10c per litre, he said.
Mr Fitzgerald said motorists needed to choose wisely where they bought their fuel.
Yesterday’s prices in Townsville ranged between 135.9c-139.9c per litre.
FUELtrac general manager Geoff Trotter said his company didn’t like to quote fuel prices because they could change. He said the belief fuel prices rose this week due to the unrest in Libya was untrue.
‘‘ There should be no correlation between the two events,’’ Mr Trotter said.
‘‘ The only reason they’d jump to that level is because dealers want a larger margin in this particular case.
‘‘ If petrol station owners are happy to sell petrol for 130.1c during the week, then why would it jump 10c on the weekend?’’
Mr Trotter said it should weeks for the new price to through to the supply chain.
‘‘ We have a seven-day rolling average to calculate the wholesale price and this smooths out these rises.’’
He said retailers and dealers were ripping consumers off.
‘‘ It’s ridiculous. Crude oil has to stay up for at least a week to see a long-term affect on fuel prices,’’ he said. Crude oil rose to $ 120 a barrel then retreated to $ 114 earlier this week, he said.
Toowoomba remained the cheapest place in Queensland to buy unleaded petrol in February, continuing its trend from 2009 and 2010 when it deli vered t he cheapest average prices in the state. take flow