Motorists in Deagon, Zillmere, and Bracken Ridge are finding some relief at the bowser, with these suburbs ranking among the cheapest in Brisbane for unleaded fuel in 2024, as prices across the city hit an average of 194.5 cents per litre, the most expensive in Australia.
Record Fuel Prices Across Brisbane
In 2024, Brisbane drivers paid the highest-ever recorded prices for regular unleaded fuel, surpassing the 2023 record by 1.4 cents per litre, according to the RACQ Annual Fuel Price Report.
Brisbane retained its position as the nation’s most expensive capital city for fuel, with the average price exceeding those in Perth by 13 cents per litre. RACQ highlighted that retail margins continued to grow, hitting an average of 21.4 cents per litre, which is 4 cents higher than the previous year and 7 cents higher than in 2022.
Community Price Disparities
While Brisbane’s average fuel price set records, significant variations were seen between suburbs. Deagon, Zillmere, and Bracken Ridge emerged as some of the most affordable places to fill up, with prices averaging between 178.5 and 184 cents per litre.
Comparatively, nearby suburbs such as Salisbury and Toowong were among the priciest, with prices exceeding 203 cents per litre.
Moorooka also stood out as one of the cheapest suburbs, with an average price of 184.1 cents per litre. In contrast, Salisbury, only a short distance away, averaged 203.3 cents per litre, a stark 19-cent difference.
RACQ emphasised the importance of using fuel comparison apps to locate cheaper service stations, noting that travelling to the next suburb can make a significant difference in savings.
Intervention and Future Outlook
In response to record-high prices, the state is exploring various models to regulate fuel prices, including implementing a daily cap on price hikes. The RACQ has repeatedly called for a 5-cent daily limit on price increases, similar to Perth’s “Fuel Watch” system, where service stations lock in prices for 24 hours. Officials have suggested that increasing market competition and reviewing planning systems for new service stations could also help alleviate rising costs.
Dr Ian Jeffreys, RACQ economist, described the market as “failing,” citing the consistent rise in retail margins and dramatic price hikes. He stressed that intervention is needed to curb price volatility and provide relief to Queenslanders.
The RACQ remains optimistic about a slight decline in fuel prices this year due to expected drops in global oil prices. However, the motoring body continues to advocate for robust measures to stabilise prices and protect motorists from unpredictable cost spikes.