Fuel price set to soar above 150c per litre

IPSWICH motorists who did not fill up yesterday may have missed the last opportunity to catch the bottom of the fuel price cycle, with the RACQ tipping the costs to skyrocket above 150 cents a litre.

The peak motoring body said some south-east Queensland retailers had already bumped their prices up as high as 157.9 yesterday. However, more were expected to follow suit today and during the remainder of the week.

RACQ spokeswoman Niki Kormendy advised consumers to fill up if they saw any servo selling for less than 142 cents per litre.

"What we have been seeing with the cycle is that the bottom end is immediately followed by a price hike," Ms Kormendy said.

"Then prices will gradually drop over the course of the cycle."

Ms Kormendy said the current south-east Queensland fuel price cycle had reached its 14th day, following the longest fuel price cycle on record - 18 days - experienced last month.

"Motorists used to be able to fill up on cheap Tuesdays, knowing the price cycle would be at its lowest point, but since April 2011 the fuel cycle has increased to 11 or 12 days, sometimes longer," Ms Kormendy added.

"The longer price cycles are making it difficult for motorists to plan their refuelling around the cheap days."

Ipswich's cheapest petrol was sitting at just above 142 cents per litre yesterday, with the Caltex service stations at Yamanto and Booval and the BPs at Silkstone and Eastern Heights all offering unleaded for 142.9.

The cheapest diesel across Ipswich was listed as 149.9 at Caltex Blacksoil and BP at Yamanto and Churchill.

Check RACQ's website racq.com.au/fuel for daily updates.

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