For the first time in almost a decade, the Gold Coast was last month home to Queensland’s cheapest unleaded petrol.
RACQ’s latest fuel report showed the Gold Coast’s average ULP price for August was the lowest of more than 40 centres across the Queensland.
RACQ spokesperson Renee Smith said the last time the Gold Coast took the crown for cheapest ULP was back in February 2007.
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“It’s been a long time coming for Gold Coast residents,” Ms Smith said.
“Motorists on the Gold Coast enjoyed a significant drop in prices from July to August, with the average ULP price falling 6.5 cents per litre (cpl) to 107.5 cpl.”
Ms Smith said there were two reasons prices were low last month.
“Firstly, the way the fuel price cycle fell meant that almost the entire month of August coincided with the cheaper parts of the cycle, with the most expensive phase in late July,” she said.
“The Gold Coast is also a highly competitive market, in which local, concentrated competition pushed prices down even further.”
Ms Smith said the Gold Coast was currently in the expensive phase of the price cycle with the average 127cpl.