Brisbane Drivers Pay $50million More In Petrol Each Year
The Queensland government has labelled Brisbane petrol prices "highway robbery" after the consumer watchdog revealed drivers in the city pay $50 million more a year to fill their cars than motorists in other capitals.
An Australian Competition and Consumer Commission report released on Monday revealed Brisbane drivers are paying an average of 3.3 cents a litre more for petrol than motorists in Sydney, Melbourne, Adelaide and Perth.
ACCC chairman Rod Sims said it confirms Brisbane drivers are paying too much for petrol and some local fuel retailers are "enjoying high profit margins at their expense".
Brisbane petrol retailers' net profits were 55 per cent higher compared to their interstate counterparts during 2015/16 financial year.
Over an eight-year period, the estimated cost for Brisbane drivers is $400 million.
Queensland Energy Minister Mark Bailey lashed retailers over the findings.
"This is quite literally highway robbery and clearly unacceptable," Energy and Biofuels Minister Mark Bailey said.
RACQ spokeswoman Renee Smith called on the Queensland government to step in with a need for fuel price transparency laws.
Mr Bailey said the Palaszczuk Government acted in August with a price campaign banning misleading discounted prices on fuel price boards. The campaign will come into effect from January.