MAKES CENTS: Fuel prices to drop to 2005 levels
MOTORISTS in the South Burnett could soon be filling up at the lowest prices seen in 15 years.
RACQ has revealed new analysis, which shows parts of southeast Queensland could see fuel prices sitting at around 90 cents a litre within the next two weeks.
That would be the lowest price motorists have seen since June 2005.
RACQ spokeswoman Renee Smith said most people wouldn't benefit a lot, with work-from-home arrangements and restrictions on non-essential travel reducing the need to drive.
But Ms Smith said the cheaper prices would be welcome news to those struggling to pay bills in tough economic times.
"In the southeast, we're yet to hit the bottom of the cycle," she said.
"Prices are still falling and we haven't seen the best prices yet, we believe. It's a bit frustrating when we finally see these cheap prices, yet we're not using our cars as much."
Fuel prices across the South Burnett for E10 fuel:
Kingaroy United (Cnr River Rd & Youngman St): 115.9
Freedom Fuels (48 Knight St): 117.9
Caltex Kingaroy (91-93 Kingaroy St): 119.9
BP Kingaroy (114-118 Kingaroy St): 119.9
Woolworths Caltex (91 Youngman St): 115.9
Coles Express (117 Youngman St): 119.9
Liberty Kingaroy (125 Youngman St): 115.9
United Kumbia: (61 Bell St): 119.9
BP Wondai (3 Greenview Rd): 119.9
Blackbutt Fuel & Tyres (67 Coulson St): 115.9
Murgon Fuels (92 MacAlister St) 115.9
Murgon BP Roadhouse (1647 Bunya Hwy): 119.9
Collards Fuel Supplies (3 Rewald St): 115.9
But Ms Smith said motorists who could wait to fill up should hold off.
"We are now expecting that prices could fall to 90 cents/litre in in the next two weeks," Ms Smith said, citing the new RACQ data.
"The last time prices were below 90 cents/litre was June 2005, and the average went below 90 cents/litre in January 2005."
Ms Smith said prices had fallen on the back of reduced demand, thanks to the coronavirus lockdown, as well as a trade war between oil producing countries, but this could end soon, raising fuel prices again.