Brisbane motorists now have proof they have been paying too much for fuel, with an RACQ report revealing Brisbane was the most expensive of Australia’s five largest capital cities in 2010.

The RACQ Annual Fuel Price Report 2010, released today, revealed that the average price of unleaded fuel in Brisbane was 127 cpl, an average of 2 cpl above the prices in Sydney, Melbourne and Perth and 4 cpl above Adelaide. It was also 9.1 cpl higher than the 2009 average.

RACQ General Manager External Relations, Paul Turner, said fuel prices in Brisbane were also higher than some of the key regional cities in the State – Toowoomba (123.6 cpl), Bundaberg (126.2 cpl) and Townsville (126.7 cpl).

“This is very disappointing as fuel prices in Brisbane should be cheaper, given the city‟s large market, higher volumes of fuel consumption, and that fuel is refined locally,” he said.

“The high price of unleaded petrol in Brisbane is largely due to the dominance of the major supermarket chains and the absence of a major discounter, as in other capitals.”

Mr Turner said the price of ULP throughout 2010 was fairly stable as the strength of the Australian dollar buffered consumers from increasing prices for crude oil linked to the rebounding world economy.

“We would have been paying up to an extra 14 cents a litre but for the rise in the value of the Australian dollar,” Mr Turner said.

However, the volatility in the weekly cycle in south-east Queensland made it harder for motorists to “shop smart”, with Friday emerging as the average cheapest day for 2010.

“In past years when the fuel cycle has been predictable, motorists have proven themselves to be savvy shoppers, with two thirds of sales occurring on the cheapest days of the week,” he said.

“The almost constant change in the cycle during the second half of 2010 reinforced the need for motorists to be vigilant about price trends so they can fill up on the cheapest days.”

Premium ULP stayed at about 9 cpl above regular unleaded fuel.

“It‟s disappointing to see the cost of premium ULP so high, given that it costs the refiners only 3.5 cpl more to produce than regular ULP,” Mr Turner said.

He said diesel prices had remained relatively stable in 2010 in Brisbane, which was the second cheapest place in the State to buy diesel at 127.6 cpl. Caloundra recorded the cheapest price for diesel, at 126 cpl.

“With more new cars using diesel, it was good to see less volatility in the price of diesel fuel,” Mr Turner said.