07 Feb Fuel Prices and Frustrations… Both going up!
There has been some talk lately of the recent fuel price increase that has arrived in Gladstone. People are outraged at the increase and have resorted to phone app’s that allow the buyer to shop around.
According to the Australia Competition and Consumer Commission (ACCC) website price cycles are the result of deliberate pricing policies of petrol retailers, and are not directly related to changes in wholesale costs. The duration of petrol price cycles throughout Australia vary from cycle to cycle, and has increased in recent years. In 2015 to date, price cycle duration’s in capital cities have ranged from a low of 13 days to a high of 67 days. The below graph of Brisbane fuel prices clearly shows we have just entered our peak cycle and visits to the bowser will be less than favorable.
There are a few app’s on the market that allow you to check fuel pricing in your area and the GN team trialed one in particular, called Fuel Map. It’s free and as soon as you open the app it displays petrol stations within your area and once you select the type of fuel you are looking for it displays the cost of that fuel at each station. This is a must-have app for all locals for the coming weeks (or even months) to save when filling up!