PETROL prices have plummeted across the Redlands and Scenic Rim, with unleaded fuel spotted as low as 84 cents per litre on Russell Island and 96 cents at Canungra.
It comes as sweet relief for motorists who have been crying out for prices to match those seen in the capital cities since oil prices plunged to an 18-year low in late March.
The ACCC yesterday warned fuel retailers not to use the pandemic as a way of increasing profits, calling for the full benefit of falling oil prices to be passed on to motorists.
A Victoria Point man also raised the issue of price gouging earlier this month, arguing that Redlands motorists were being stung about 20 cents more per litre for petrol than those in surrounding suburbs.
ACCC chair Rod Sims said the crude oil price spelt good news for motorists.
"At this time the Australian economy needs all the assistance it can get, and lower world crude oil prices are one of the few positives from current world events," he said.
"In the larger Australian capital cities, petrol retailers took too long to pass on the savings from the rapid drop in international oil prices, and this did not reflect well on them."
Mr Sims said a lack of competition was also fuelling higher prices outside of the major capital cities.
He said prices in regional centres were generally higher due to a number of factors, including lower demand and higher costs for transport and storage.
"Where there is competition, you tend to see lower prices," he said.
"Giving your business to outlets that are pricing competitively sends a strong message to those that have high prices that they will lose your business.
"We recommend motorists compare prices on fuel price apps and websites, such as MotorMouth ...
"Especially at this difficult time, retailers must not take advantage of the situation to increase their profits, but should pass on savings to motorists."
According to MotorMouth data, the average price for diesel is $1.29 while E10 is 94.5 cents in the Redlands.
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