Warwick, you're being ripped off at the bowser
ONCE upon a time, Warwick homed the cheapest fuel prices in the state.
Now, a suggestion of such warrants laughter.
Just six months ago, the average price of a litre of unleaded in Warwick sat at 117.3cpl, 25cents cheaper than the 142.9cpl that Caltex, BP and Puma are selling for today.
According to the RACQ a fair fuel price is 129.7cpl, with the closing station providing that cost the BP Aratula,
In April 2014, the Rose City held bragging rights to the cheapest fuel prices in Queensland, though that was in an era 151.2cpl was considered a bargain.
Petrol prices in Australia had their highest quarterly average in more than two years, according to the latest report from the consumer watch dog.
Prices in the five largest cities (iSydney, Melbourne, Brisbane, Adelaide and Perth) increased by 7.8cpl to 122.0 cpl, still 20cpl under what we pay in Warwick.
So what do we do?
Support those who are offering a fair price.
Rudd's Corner on the Cunninghway Hwy currently has unleaded for 130cpl. Headed to Toowoomba? Fill up en route.
The ACCC estimates that by timing their purchases of petrol, and choosing to buy from the lowest priced retailer, motorists filling up a vehicle with a 60 litre tank could save themselves around $10 to $15 per tank of petrol.
The availability and usage of petrol pricing apps and websites increased significantly in 2016.
Data collected by the ACCC shows that usage of these websites and apps increased from around 4 million hits in the December quarter 2015 to around 21 million hits in the December quarter 2016.
Yes, they are making bigger profits
Gross retail margins (i.e. the difference between retail prices and wholesale prices) increased by 0.9 cpl to 11.3 cpl.
Average gross retail margins in the five largest cities in the 2016 calendar year were 10.6 cpl, which was marginally higher than in 2015.
"Average retail prices in the December quarter 2016 in the largest cities were the highest since the June quarter 2015, while gross retail margins also increased in the quarter," ACCC Chairman Rod Sims said.
The increase in retail prices during the quarter was significantly influenced by the Organisation of the Petroleum Exporting Countries (OPEC) announcing in late November an agreement to limit crude oil production.
"In this higher price environment it is even more important for motorists to shop around for cheaper petrol prices."