News

Petrol cheaper at Ipswich bowsers

Ipswich drivers paid high prices for diesel during November as profit margins rose.
Ipswich drivers paid high prices for diesel during November as profit margins rose. File

PETROL-powered motorists have enjoyed a relatively cheap month at the bowser while diesel drivers copped the brunt of a sharp increase in profit margins from the major retailers, wholesalers and refiners.

RACQ spokesman Michael Roth said south-east Queensland motorists paid "exorbitant" prices for diesel through November, despite a drop in oil prices.

In Ipswich, diesel averaged 150.4 cents per litre - 0.4 cents per litre above the average price in Brisbane for the month and half a cent more expensive than the October average.

But Mr Roth said a more telling figure was the 10-cents-per-litre rise in profit margins on diesel from last year.

Diesel retail margins rose to 12.4cpl in November, a 6.7cpl increase on November last year. Refiners and wholesalers also enjoyed an increase, with their combined margins 3.2cpl higher than in November 2011.

"Total diesel margins have been creeping up steadily since March as fuel companies continue to pocket more at the expense of motorists," Mr Roth said.

"The price of oil and the terminal-gate price both dropped in November so we should have seen a corresponding drop in diesel prices."

Gympie was the cheapest place to buy diesel in Queensland, with an average of 145cpl, making it more than 5cpl lower than Ipswich. While there was no good news for diesel owners, petrol drivers for once enjoyed a comparatively easier time at the bowser.

Petrol prices in Ipswich dropped by nearly 8cpl from October to November, averaging 142.1 for the latter month.

Only the state's capital, which averaged 141.4, and the Sunshine Coast, at 140.8, were cheaper places to buy petrol.

The RACQ reported a 3.9cpl drop in the total margins on unleaded.

Mr Roth urged motorists to shoparound. RACQ's monthly fuel report is at racq.com/fuel.

Topics:  fuel price



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