Brisbane drivers hit with major petrol price spike

Drivers in Brisbane have been slugged with a 30 cent price increase in fuel prices in just one week.  

Unleaded petrol prices (UPL)  jumped from 114 cents per litre (cpl) on Tuesday to almost 141.9 cents per litre at service stations in the city today, the RACQ revealed.

The Australian Competition and Consumer Commission is now investigating what caused the 30 cent increase.

The spike comes just a month after the city was declared the most expensive place of the country’s major cities to buy unleaded fuel, with prices hovering at 127.4 cpl, according to the RACQ’s May fuel report.

The price is 2.5 cpl higher than in March, as a result of an increase in fuel company margins, RACQ said.

In regional Queensland, the average UPL price was 0.5 cpl higher in May than April, hovering at 131.5 cpl.

Unleaded fuel prices in Sydney and Melbourne were cheaper than Brisbane by 4.1 cpl and 0.6 cpl respectively.

The town of Miles, on the Warrego Highway, is cheapest place to buy unleaded in the state, with prices 7.5 cpl lower than Brisbane.