MACKAY motorists have saved a staggering $5.3 million since December 2018.

New figures released by RACQ show that as a whole Queenslanders saved $122.8 million after the introduction of the Fuel Price Reporting Scheme.

In 2017, the RACQ successfully lobbied the State Government to install the scheme, which is similar to those in place in other states.

It is now mandatory for all service stations to publicly release prices to create greater transparency for drivers.

RACQ spokeswoman Renee Smith said the benefits had been felt statewide, with a drop in the relative price of unleaded petrol in most regional and city centres.

"We fought hard for drivers to have free accessible information to make more informed decisions about where they wanted to fill up, ultimately creating greater competition within the fuel market," Ms Smith said.

The research found the Whitsundays also saved about $600,000.

Ms Smith said the analysis found the average monthly price of ULP was 5.3 cents per litre cheaper in Mackay, and 3.1cpl less in the Whitsundays, since the introduction of the trial.

"In recent years the Whitsunday market has been more competitive than in Mackay, which means fuel prices didn't have as much room to move," she said.

"Overall, it's clear fuel is cheaper now than what it would've been without the scheme.

"Prices will always fluctuate depending on the oil prices and Singapore prices, but this is a simple way drivers can make informed decisions and reward the service stations doing the right thing and charging fair fuel prices."


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