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Money Fill up now: RACQ warns fuel prices to jump by 20 cents per litre in 'blink of an eye'

19:54  09 january  2018
19:54  09 january  2018 Source:   brisbanetimes.com.au

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  Romans brave chilly Tiber for New Year plunge Hardy thrillseekers plunged into Italy's Tiber river on Monday, continuing a decades-old New Year's tradition.Like every January 1 since 1946, several courageous divers braved the cold and rain to kick off 2018 by jumping from a bridge in central Rome into the famous river, which is barely above freezing.

Fill up now : RACQ warns fuel prices to jump by 20 cents per litre in ' blink of an eye '. Queensland's peak motoring body warns prices could jump to almost .50 per litre without warning this week. brisbanetimes.com.au.

“I would say what’s in the pipe right now (for gasoline) is about another 20 cents .” If the projected gasoline price materializes it would be the most consumers have ever paid to fill up at Thanksgiving and could break the all-time high of .22 a gallon set last May.

South-east Queensland drivers should get to the bowser quickly or risk paying 20 cents per litre more.© Bloomberg South-east Queensland drivers should get to the bowser quickly or risk paying 20 cents per litre more.

The state's peak motoring body has urged south-east Queensland drivers to get in gear and fill up their fuel tanks as soon as possible, with prices expected to jump about 20¢ per litre.

RACQ spokeswoman Renee Smith said the low point of the fuel cycle was expected this week, but then prices were predicted to increase to almost $1.50 "in the blink of an eye".

Monday signalled day 33 of the petrol price cycle, with Ms Smith saying the days of "cheap Tuesday", when motorists knew the fuel prices would be low, were long gone.

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  Aussie dollar eyes off 79 US cents The Australian dollar has yo-yoed higher against its strengthened US counterpart with the focus now on the 78.80 US cent mark.At 0635 AEDT on Thursday, the Australian dollar was worth 78.32 US cents, up from 78.22 US cents on Wednesday.

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RACQ spokeswoman Renee Smith said the 145 cents per litre threshold had not been broken since August 2015. The RACQ have encouraged drivers to fill - up at the cheapest petrol station, regardless of whether it's an independent or multinational.

The average at Brisbane bowsers on Monday was $1.35, but some service stations were selling fuel for $1.31 per litre.

"While prices around $1.30 per litre may not seem cheap to motorists, some might remember when prices were close to one dollar last year, due to wholesale prices at the moment once a service station drops below $1.30 we will be considering that as cheap," Ms Smith said.

Service stations north of Brisbane in the Moreton Bay region were selling fuel for about $1.25 per litre, but these prices were not expected to last for long.

Ms Smith said the low and peak of the fuel cycle could happen in the same week, but when the prices do go up, either this week or next, it will be a 20¢ jump without warning.

Brisbane hit with most expensive petrol in three years

  Brisbane hit with most expensive petrol in three years The latest RACQ data reveals Queenslanders continue to pay more at the bowser.Brisbane has been slugged with the most expensive unleaded petrol prices in more than three years.

The average price of unleaded petrol in the UK has slipped down slightly to to 127.92p per litre . Where are the best places to fill up to avoid the price jump ? If you are looking for cheap fuel you need to be checking these two sites.

Cheaper fuel on the way: RACQ . Fuel retailers across the south east have ramped up their fuel price discounting with unleaded petrol (ULP) prices in parts of the region falling as much as seven cents per litre (cpl) in just three days.

"Prices will go up sharply and are likely to go into the high $1.40s but we don't expect them to hit $1.50 per litre," Ms Smith said.

"At the last peak, prices were just over $1.49 per litre, but we hope it will be a few cents per litre cheaper this time.

"When cycles do turn and go into the peak, it is without warning and catches motorists by surprise, so drivers need to fill up this week in south-east Queensland because prices can go up in the blink of an eye."

According to fuel price comparison app MotorMouth, the cheapest unleaded fuel near the greater Brisbane area on Monday could be found at Puma in Narangba (122.7¢ per litre), 7 Eleven at North Lakes (123.2¢ per litre) and Caltex in Burpengary (123.7¢ per litre).

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Amid a record-breaking session on Wall Street, the Australian dollar has hit a four-month high ahead of today's unemployment figures.The Australian dollar hit a four-month high of 80.22 US cents at 6.30am AEDT.

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