Fuel excise cut not extended as Gold Coast prices hit record highs

Gold Coasters are continuing to pay through the roof for petrol, with motorists facing record highs.

As the cost of living continues to skyrocket, we’ve faced the most expensive quarter for petrol on record, and unfortunately, it’s not set to ease anytime soon.

Gold Coast hit a massive 219.9cpl for unleaded in June, or for diesel customers, it was a whopping 236.8cpl.


Nicky Haydon from RACQ is warning that servos will experience another hike soon.

“Our advice for motorists in southeast Queensland is to fill the tank now,” Ms Haydon says.

“We don’t expect prices to dip much lower before hiking again. Today, a fair target price is 203cpl.”

The soaring petrol prices come as the Prime Minister has today ruled out extending the cut to the fuel excise.

It’s a further blow for motorists who will have to fork out another 22 cents a litre from the end of September.

Anthony Albanese has blamed the $1 trillion debt his government has inherited for not being able to afford to extend it, saying he’s had to make some difficult decisions.

“We can’t do everything that we would like to do,” Mr Albanese says.

“In the long run if we don’t do something about improving the fiscal position on the budget, then the impact on households will just flow on down the track.”

The Gold Coast has experienced skyrocketing prices each month for unleaded petrol on average, going from 174.4cpl in April to 195.2cpl in May and then 204.6cpl for the month of June.

RACQ says the record highs observed in June were caused by high oil prices driven by the war in Ukraine and subsequent sanctions against Russia, rather than the behaviour of local fuel companies.