From midnight the Federal Government’s cut to the fuel excise will end, adding 25.3 cents per litre (cpl) to the wholesale price of unleaded and diesel.
Despite a recent spike in fuel prices further on the Sunshine Coast to nearly $2 a litre, unleaded is selling for around 156.9 cents per litre in Gympie this morning.
RACQ spokesperson Nicky Haydon says we shouldn’t see a major jump in price immediately tomorrow.
“We shouldn’t see prices hike dramatically overnight and there are several reasons behind that,” Ms Haydon says.
“Fuel companies have already purchased the stock they have in the ground at the discounted excise, so they need to use that fuel first before purchasing new stock at the higher price.
“Global oil prices have also fallen significantly from where they were in June and they are continuing to fall, so that should lead to lower wholesale prices in the next week.
Meantime, Geoff Trotter from Fueltrac is urging locals to top up as soon as possible.
“At least for the first fill you might be able to save yourself at least 25 cents a litre. If you can fill up your vehicles prior to Thursday morning,” he says.
