100% Locally Owned, Independent and Free

100% Locally Owned, Independent and Free

RACQ explains diesel fuel surge, with dismal cost rise forecast for the bowser

Do you have a news tip? Click here to send to our news team.

Dog beach sand project scores major industry accolade

A sand nourishment project at a dog off-leash beach has been recognised with a prestigious engineering award. The Noosa Spit Doggy Beach sand nourishment project, More

Photo of the day: spectacular sky

“Here is a photo taken in Nambour on an evening walk,” writes Keith Suttenfield. If you have a photo of the day offering, email photo@sunshinecoastnews.com.au More.

Council app puts local information at fingertips

An upgraded app is making it easier for Sunshine Coast locals and visitors to request a service, report an issue and access local council More

Premium $100 million hotel planned for bustling street

An upscale hotel featuring 153 rooms could be built in the heart of the Sunshine Coast. One of the world’s leading hotel companies, IHG Hotels More

Roadside copper cable theft interrupted amid statewide issue

Communications cabling has been torn out of trench pipes on the Sunshine Coast, in an apparent attempt to steal copper. Police confirmed the attempted theft More

Drone technology used to track e-scooter and e-bike offenders

Police have used drone technology to target personal mobility device offenders, as part of a weekend blitz in a Sunshine Coast beach town. More than More

Diesel prices are hitting record highs, with Sunshine Coast motorists paying well over $2.33 a litre.

But the reason we are paying more at the bowser for diesel fuel is not what most people assume.

RACQ spokesperson Lauren Cooney said the record high prices were due to international factors, rather than overcharging by fuel companies.

Do you have an opinion to share? Submit a Letter to the Editor with your name and suburb at Sunshine Coast News via: news@sunshinecoastnews.com.au

“There’s a misconception that fuel companies are overcharging motorists on diesel, but in fact retail margins are reasonably low,” Ms Cooney explained.

“The current average retail margin on diesel sold in Brisbane is 9.5 cents per litre, usually this sits at around 12 cents per litre.”

An RACQ spokesperson said the average diesel price for Maroochydore/Caloundra has hit a record high at 237.2 cents per litre.

This has exceeded the previous record price for Maroochydore/Caloundra which was 236.8 cents per litre, set on July 1.

The average price for diesel in the Sunshine Coast is currently 235.8 – this is yet to break the current record high of 236.1 which was also set on July 1.

Around Queensland, the area of Logan is currently paying the most at the Bowser.  Source: RACQ

Ms Cooney said exceptionally high diesel prices are being experienced right across the world.

“Russia is a major manufacturer and distributor of diesel, especially to the European market,” she said.

“With the ongoing war in Ukraine and sanctions against Russian exports, the global supply of diesel has fallen significantly, causing wholesale prices to rise and remain incredibly high.”

Local journalists supporting local people. Help keep independent and fair Sunshine Coast news coming by subscribing to our free daily news feed. All it requires is your name and email. SUBSCRIBE here now.

Ms Cooney further explained the demand for diesel is much higher than the demand for unleaded fuel.

“Diesel is an industry fuel and is used far more than unleaded, for example in Queensland we consume more than twice as much diesel as we do petrol,” she said.

“The production cost of diesel is similar to unleaded and both products are processed similarly.”

The RACQ explained it was simple supply and demand factors that are pushing up prices, rather than the productions costs.

“The current average wholesale price of diesel in Brisbane is 226 cents per litre, which is about 50 cents higher than the unleaded wholesale price of 175 cents per litre.

“In normal times the local wholesale prices and international benchmark prices for unleaded and diesel would be very similar, usually no more than a few cents difference.

“With retail margins currently low for diesel, the bad news is prices are likely to continue to creep a little higher.”

SUBSCRIBE here now for our FREE news feed, direct to your inbox daily!

Subscribe to SCN’s free daily news email

Hidden
This field is for validation purposes and should be left unchanged.
[scn_go_back_button] Return Home
Share