Win for drivers at pump

GOLD COAST fuel prices have dropped 44 cents in just over a month and 11 cents this week as international prices finally give motorists a break.

Yesterday, motorists could buy unleaded for as little as $1.189 a litre at Caltex Star Mart at Surfers Paradise, while the average price was $1.25.

Last month prices hit an alltime high of $1.69 a litre as a result of US sanctions on Iran and a weak Australian dollar.

“In the last month, the oil price has weakened by 25 per cent – this combined with the fuel price cycle has led to a large drop in the price of unleaded which is now the lowest it’s been in eight months,” RACQ spokeswoman Kirsty Clinton said.

“The year to date average price for unleaded on the Gold Coast is $1.44.

“In the past week, the RACQ Fair Fuel price on the Gold Coast has dropped from $1.36 down to $1.25.”

The hikes in October created a stir across the country, with a National Fuel Strike organised to protest against skyrocketing prices at the bowser.

At the time RACQ spokeswoman Lucinda Ross said fuel might not dip below $1.40 again.

She said global tensions, a weak Aussie dollar and anticompetitive behaviour were fuelling the price hike.

“We have a perfect storm here at the moment which is driving up prices at the bowser,” Ms Ross said.

According to Petrol Spy, people across the border are doing it tough as some petrol stations are charging 25 cents more than the Gold Coast average. According to the website there are just two outlets from the border to Brunswick Heads under $1.40 per litre.