The profit margin of some Tasmanian petrol retailers continues to be too high when considering the current wholesale price, the RACT says.

General manager Member Assist Darren Moody said the terminal gate price or wholesale price was 112.1 cents/litre.

“An acceptable profit margin is usually between the nine cents/litre and 12 cents/litre mark,” he said.

“The retail price on average in Hobart is 136.9 cents/litre, 139.9 cents in Sandy Bay and Rosny, 137.9 cents in Launceston and 135.9 cents in Burnie.

“That is a profit margin of between 23.8 cents per litre and 27.8 cents per litre.

“In regional Victoria, for example, most retailers are selling petrol in the mid 120 cents which is where we should be.”

Mr Moody said fuel prices were an issue of great concern for the RACT and its members.

“Timely, accurate and transparent petrol price information is invaluable,” he said.

“With this in mind, we have recently made a submission to the Tasmanian Government’s consultation process on the introduction of a Code of Practice for fuel price boards.

“Inconsistent fuel price board information across the state make it difficult for motorists to compare prices, or even know what they will pay for their fuel when they fill up.

“A Code of Practice will greatly assist and provide the sort of transparency motorists need when they are buying fuel.”

Mr Moody said the RACT first wrote to the government about the issue in 2014, and have been in formal discussions since last year seeking a review of the legislation.

“We look forward to an announcement from the government about the legislation and a proposed timeframe for implementation,” he said.

“And, as always, we stand ready to work collaboratively with the government to ensure the final outcome delivers the very best fuel price for Tasmanians.”