Prices are following a global trend, with high oil prices driven by the war in Ukraine and China easing its COVID-19 restrictions and increasing its demand for oil.
Petrol prices in Brisbane are set to reach their highest-ever mark, with some service stations charging as much as $2.24 per litre.The Greater Brisbane area is only in the early stages of a fuel price hike, the RACQ says
Those looking for a bargain will be hard pressed trying to find one, with the cheapest prices found at The Gap, Enoggera, and Graceville, where prices are $1.85 per litre. "We're seeing around 10 per cent of petrol stations hiking to that new high of $2.24 per litre for regular unleaded," Ms Haydon said.
The petrol price cycle typically lasts 30 to 35 days and Ms Haydon does not forecast prices will rise further in this cycle."When we look at the petrol price cycle, the hike phase tends to go for about 10 days, so now is the time to buy because there is still plenty of cheaper fuel available over the next week to 10 days," she said."They will level out for a while and then over the next week to two weeks they'll drop again.
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