‘Doesn't add up': RACQ slams unfair Brisbane petrol price hikes
Fuel companies in Brisbane and on the Gold Coast are currently increasing unleaded prices from a low of 160 cents per litre to a high of 219.9 cents per litre.
RACQ head of public policy Dr Michael Kane said despite impacts from Israel-Iran conflict and the local price cycle, retail margins were far too high compared with other parts of the country.
'We're currently in the price-hike phase of the fuel cycle and while we usually see prices jump, an almost 60¢ hike is unjustified and unfair,' he said.
'We're seeing a lot of blame for these higher prices fall on international factors, like the conflict in the Middle East and volatile global oil prices, but these haven't led to a significant increase in wholesale fuel prices, so the massive spike at the bowser doesn't add up.'
Federal Treasurer Jim Chalmers has written to the Australian Competition and Consumer Commission calling for the watchdog to monitor for potential price gouging at the bowser by operators.
Petrol prices have been fluctuating following uncertainty in the Middle East with Iran and Israel trading air strikes and the US bombing Iranian nuclear facilities.
'We don't want to see service stations do the wrong thing by Australian motorists,' he told reporters in Brisbane on Tuesday.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Perth Now
an hour ago
- Perth Now
Major Aussie warning on ‘ghost stores'
Australia's consumer watchdog has issued a major warning to online shoppers over several 'ghost stores', which are luring shoppers to buy heavily discounted products from scam websites. The Australian Competition and Consumer Commission (ACCC) received more than 360 complaints about 60 retailers that operate as ghost stores this year, but believe many more could be in operation. The ACCC alleges these 'ghost stores' making false claims they are a local Australian business that is closing down - claiming to sell high-quality clothing and footwear. In reality, they are based overseas and ship inferior, low-quality items. The ACCC warned consumers to be wary of ghost stores that masquerade as a local business selling heavily discounted products, but are really based overseas and ship how quality items compared to what's advertised. Supplied Credit: Supplied Ghost stores target consumers through social media ads, then close and rebrand under new names, often using different Australian suburbs, towns or cities in their business name to appear as a local business. The ACCC issued a public warning to notify consumers of four websites currently in operation including and ACCC deputy chair Catriona Lowe warned Australians about the risks of engaging with these websites, alleging they are not based in Melbourne, Adelaide or Double Bay and they were not closing down. 'We further allege that the operators of these websites are supplying products which are not of the advertised quality,' she said. The ACCC received more than 360 complaints about 60 ghost stores this year. Supplied Credit: Supplied Authorities are concerned the conduct is widespread and there were many online ghost stores in operation that falsely claim to be local boutiques but supply poor quality products. Ghost stores also refuse refunds, or only offer partial refunds to consumers who complain about the inferior quality of the goods compared to what is advertised, or do not respond to complaints at all. Ms Lowe urged people to think twice before clicking on ads they saw on social media which claim to be from a boutique business based in a local town or city. 'Often ghost stores will share an emotional story on their social media or website that they are a small, locally operated business, needing to close for financial reasons,' she said. Authorities are concerned the conduct is widespread and there are many online ghost stores in operation and falsely claim to be local boutiques but supply poor quality products. Supplied Credit: Supplied 'They will claim they are having a 'closing down sale' as a result, with all stock heavily discounted and available on a very limited basis. 'This conduct preys on the empathy of consumers who have a genuine desire to support local businesses, as well as creating a false sense of urgency. 'The websites often use a similar format to many other online stores, advertising high-quality boutique clothing at heavily discounted prices. 'However, when the product arrives in the mail, consumers report receiving cheap, mass-produced products that have been sold at an inflated price and do not fit their advertised quality or description.'
Sky News AU
2 hours ago
- Sky News AU
Offshore wind ‘more expensive' than hoped
The Australian's Environment Editor Graham Lloyd says offshore wind is proving to be 'more expensive and more difficult' than was hoped. Mr Lloyd told Sky News host Danica De Giorgio that companies have largely 'lost their money' after trying it. Norwegian oil and gas giant Equinor has abandoned its third offshore wind project in Australia.
Perth Now
3 hours ago
- Perth Now
ASX treads water as miners soar, banks fall
Strong iron ore prices and a lead in from Wall Street was not enough to lift a lagging day of trading on the Australian sharemarket. The ASX 200 index finished down 1.9 points or 0.02 per cent to 8595.8 on a sea sawing day of trading which saw it hit a three-week high of 8623.60 then dipping to an intraday low of 8543.2. The broader All Ordinaries closed up 4.90 or 0.06 per cent to 8,833.60. The Australian dollar slipped 0.2 per cent to 65.67 US cents. On a mixed day of trading, eight of the 11 sectors finished in the red, with gains of more than 3 per cent in the materials sector offset by falls in telecommunications, financials and consumer discretionary stocks. BHP soared as the rest of the market traded sideways. Picture Newswire/ Gaye Gerard. Credit: News Corp Australia Singapore iron ore futures rose 0.9 per cent to a multi-week high of $US96.20, as the market continued to react positively to the China manufacturing index released earlier in the week. BHP shares soared 5.56 per cent to $39.27, while Rio Tinto finished up 1.80 per cent to $110.25 and Fortescue jumped 1.82 per cent to $16.26. Lithium miners also rallied, with Mineral Resources up 7.76 per cent to $24.44, Pilbara up 11.31 per cent to $1.53, and Liontown up 5 per cent to $0.74. While the miners soared the big banks slumped. CBA slumped 2.17 per cent to $179.69, NAB dropped 1.07 per cent to $39.91 and Westpac fell 0.71 per cent to $33.48. ANZ was the outlier among the major banks and gained 0.53 per cent to $30.08. Australia's index dropped despite a strong lead in from Wall Street overnight with both the S & P 500 and Nasdaq hitting all time highs on the back of the US and Vietnam announcing a trade deal. The ASX 200 traded flat despite a strong lead in from Wall Street. Newswire/ Gaye Gerard. Credit: News Corp Australia senior financial market analyst Kyle Rodda said the market reacted positively to an average tariff of around 20 per cent, which is significantly lower than the 45 per cent initially planned on Liberation Day. 'Trade deals, especially ones with major trading partners and with far more favourable terms than outlined on 'Liberation Day', will be bought into by market participants and add to the momentum of Wall Street's record highs,' he wrote. In company news Pro Medicus briefly hit an intra day high of $316.47, before settling up 7.78 per cent to $307.39 after announcing it had won two new contracts in the US which will add nearly $200m in revenue. Shares in the highly anticipated GemLife IPO soared on debut, with the chief executive of the over 50s lifestyle resort adding $20m to his personal wealth in just 15 minutes after the company listed. GemLife initially soared to $4.49, before closing at $4.33, which is still 4.1 per cent higher than its IPO price of $4.16. G8 Education shares slumped for the third consecutive day of trading and closed down 7.4 per cent to $1.00, after police revealed it had charged a former employee with dozens of alleged abuse charges.
