Labor pledges cheaper fuel for Queensland if re-elected

Queensland Premier Steven Miles has revealed his $36 million plan to lower the cost of fuel, if re-elected in the upcoming state election in October.

Part of his plan is to establish 12 publicly owned fuel stations, to deliver greater competition.

These publicly-owned fuel stations, he says, would operate on a cost recovery basis, selling petrol and diesel alongside electric vehicle fast chargers.

If the bold plan was to come to fruition, the 12 initial sites would be determined by the state government, based on where it believes competition is most needed.

The state government would work with stakeholders, including independent retailers and “take on the multinational oil companies” by:

• Banning fuel stations from raising the price of fuel more than once a day
• Requiring petrol stations to release price changes a day in advance
• Working with RACQ to trial a daily limit on increases in petrol prices, to no more than 5 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

Premier Steven Miles said, “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.

“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.

The $36 million promise would be funded by borrowings in the government owned corporations sector.

However the opposition has come out firing following the announcement, claiming it’s more likely to drive fuel prices up instead of down.

“Labor’s state-owned petrol stations announcement is a desperate, hare-brained, half-baked thought bubble that will reduce competition by driving mum and dad operators out of business and pump-up petrol prices for Queenslanders across the state,” said Deputy LNP Leader Jarrod Bleijie.

He added that he believes such a move would “drive out independent mum and dad operators who right now are the ones holding the big corporations accountable”.

Shadow Treasurer David Janetzki added: “Reduced competition means higher prices, it’s that simple.”