Don’t panic: Motorists warned against stockpiling fuel
Australians are being told not to panic-buy petrol amid a price explosion as the war in Iran widens.
Motorists are being urged to resist stockpiling fuel at home as the Iran war threatens a global fuel shortage.
Crude oil prices have surged more than 25 per cent to their highest levels since mid-2022, and now sit at almost $US120 ($A171) a barrel.
And locally, the average price of unleaded petrol has soared past $2 a litre.
According to the RACQ fuel price tracker, most of metropolitan Brisbane ranges between 220.9 and 199.9 cents per litre.
The highest price observed was in Paddington, while the lowest was in Southport.
You might like
A major motoring group said some service stations were running low on fuel because Australians were buying it a greater rate than normal.
“We are also hearing troubling reports of people trying to stockpile fuel at home, which, apart from not making any economic sense, is also extremely dangerous,” NRMA spokesperson Peter Khoury said.
“Please do not put jerry cans in the garage, because that is unsafe.
Stay informed, daily
“So we really want Australians to slow down and to go back to their normal buying habits for fuel and please do not panic.”
Khoury urged oil companies not to take advantage of the war in the Middle East as an excuse to increase prices further than what they already have.
He encouraged motorists to do their research as some service stations were still selling fuel at under $2 a litre.
“Australian drivers … please be patient, don’t fill up unless you have to,” Khoury said.
“We don’t need to see any further increases above and beyond what we’ve already seen.”
Treasurer Jim Chalmers has asked the Australian Competition and Consumer Commission to monitor prices as the war continues.
Brisbane drivers are already slugged with the highest fuel prices in any capital city, according to the RACQ.
The association’s Annual Fuel Price Report for 2025 showed Brisbane’s average for regular unleaded was 185.2 cents per litre (cpl) last year – compared with the cheapest city over the last three years, Adelaide, where drivers paid an average of 173.8 cpl.
-with AAP
Want to see more stories from InDaily Qld in your Google search results?
- Click here to set InDaily Qld as a preferred source.
- Tick the box next to "InDaily Qld". That's it.
