Fuel companies capitalising on low oil prices
CHINCHILLA residents enjoyed an early year of low fuel prices, but now have to pay 20 cents per litre extra.
RACQ spokeswoman Renee Smith said the original low fuel prices were caused by an oil price war between Russia and Saudi Arabia.
“This led to massive falls in the retail price of petrol and diesel globally which also filtered through at the bowser across regional Queensland,” she said.
“The easing of restrictions in Queensland on their own, did not lead to the price increases.”
But prices have started to rise again.
“In Chinchilla the average RULP (regular unleaded petrol) price jumped from 112.6cpl in early June to the current 131.9cpl.
“This price increase was partly caused by an increase in the oil price, but mostly caused by fuel companies increasing retail margins.”
Fuel prices this year have been substantially lower this year compared to last though.
The June average in Miles was 32 cents cheeper, and 27 cents cheeper in Chinchilla.
“The latest RULP price for Chinchilla was 131.9cpl,” she said.
“We believe prices should be much lower in Chinchilla.
“Given the current terminal gate price and oil price, prices should be no higher than 116cpl.”