The Queensland Government has announced a plan to lower fuel prices, which includes the establishment of 12 publicly owned fuel stations to deliver greater competition.
In his State of the State address on 6 August, Queensland Premier Steven Miles said that tackling cost-of-living pressures is his number one priority and a sticking point for Queensland households is the price of fuel.
The publicly owned fuel stations will operate on a cost recovery basis. They will sell petrol and diesel alongside electric vehicle fast chargers.
The 12 initial sites will be determined by government, based on where competition is most needed across the state. The State Government will work with stakeholders, including independent retailers.
The Queensland Government said that it also plans to:
- Ban fuel stations from raising the price of fuel more than once a day
- Require petrol stations to release price changes a day in advance
- Work with RACQ to trial a daily limit on increases in petrol prices, to no more than five cents a litre
- Using planning call-in powers and access to publicly owned, Transport and Main Roads land to provide a more level playing field for independents and small retailers that are charging Queenslanders less for petrol
The government said that it will work with experts to identify where the big petrol players are using their market power to gouge motorists at the bowser and make sure Queenslanders have more options for where they get their fuel.
The commitment comes after the Queensland Government announced car registration costs would be reduced by 20 per cent, taking pressure off household budgets and funded by Queensland coal royalties.
The plan is expected to cost $36 million, and be funded by borrowings in the government owned corporations sector.
Premier Miles, said that, for him, the household budget of Queensland families is the most important economic yardstick.
“The costs associated with owning and driving a car can add up. But most Queenslanders, especially in the regions, need a car to get around, drop the kids at school or to do their work.
“It’s not a simple issue to fix. We don’t control global oil prices, and we can’t force privately owned petrol retailers to charge less at the bowser, but a government I lead will do whatever we can to bring petrol prices down.
“Currently when you fuel up your car, you’re sending money offshore to big multinationals.
“Publicly owned fuel stations will charge a fair price for fuel, increase competition, and ensure Queenslanders have more choice when it comes to filling up.
“I am also committed to working with experts and industry to ensure fair competition in all Queensland communities and that fuel prices can’t be jacked up by any more than five cents a day.”
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