South East Queensland motorists are being urged to hold off filling up the tank, with petrol prices expected to drop even further in the lead up to Christmas.
According to RACQ, the cost of fuel is expected to hit the bottom of the price cycle in the coming days.
Already, the average price in Brisbane has plummeted 12.6 cents per litre (cpl) in a week, with spokesperson Lucinda Ross revealing the trend was only expected to continue.
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“We’re currently in the discounting phase of the petrol price cycle so we’re seeing an increasing number of retailers drop their prices – but what’s really encouraging is we think it’s going to get even cheaper,” Ms Ross said.
“The unleaded price in Brisbane is sitting at around 130cpl, and we’re expecting it to drop another 10cpl by Christmas Day.
“If you can hold off filling up the tank for now, you’ll save, because there’ll soon be even better deals around.”
Ms Ross said Diesel drivers had also recently benefited from cheaper prices at the pump, with the commodity dropping, on average, almost 22cpl since October.
“Diesel doesn’t operate on a price cycle, so any changes are generally only gradual and over time,” she said.
“The current average price is sitting around 144cpl and while it’s a lot cheaper than what it was a couple of months ago, there are still some retailers charging above what we believe is fair,” Ms Ross said.
“But as a gift for diesel drivers, we’re not expecting to see prices increase over Christmas.”
Before hitting the road, motorists are being encouraged to continue doing their research on where the cheapest fuel prices are.