Brisbane petrol prices jump to highest level since global financial crisis on eve of September school holidays
Robyn Ironside
From:The Courier-Mail
September 16, 201112:00AM
PUMPED UP: The RACQ says pre-holiday petrol price rises are unjustified. Source: The Courier-Mail
ON the eve of the September school holidays, petrol prices have jumped to the highest level in Brisbane since the global financial crisis.
In 24 hours, the price of unleaded skyrocketed almost 20 to $1.54 a litre, giving motorists a rude shock at the bowser.
Premium petrol soared even higher, with some service stations charging a prohibitive $1.69 a litre.
Paul Turner from Queensland's peak motoring body, RACQ, said there was no reason for the steep price hike other than blatant profiteering. "While there's been some slight trending up in international prices, there's been no spike in the benchmark Singapore Tapis crude oil price," Mr Turner said.
"It's quite simply ridiculous. We're urging motorists to vote with their feet and not fill up while it's so high."
In 2008, unleaded peaked at about $1.60 a litre, and prices last cracked $1.50 in late April largely as a result of unrest in the Middle East and fluctuating world prices.
With the September school holidays beginning tomorrow, Mr Turner said it appeared some retailers could be trying to cash in on the beach-going crowds.
"Today's retail margin for unleaded is 14.9 a litre, which is certainly at the top end of the scale," he said.
"We would hope to see it come down in the next few days but because it's so high, it's still going to be fairly high."
The average price around Brisbane yesterday was 152.8 a litre.
No comment from the Industry Watchdog......petrol Price commissioner or whatever his name is.
Whoever is in that job is not only never seen but not heard either.
