RISING fuel prices have already begun spinning on to other prices, with businesses getting ready to pass costs on to consumers.

In November, prices soared to 137.9c a litre at Shell, Smithfield, after a 7c jump overnight.

Yesterday, prices ranged from $1.32 at BP in Florence St to $1.33 at Caltex in Westcourt and 137.9c a litre at Shell in Sheridan St.

In January last year, the average fuel price was 113.9c and the maximum motorists paid was 125c.

NRMA Motoring and Services president Alan Evans said fuel was predicted to hit the $1.50 mark in coming weeks because of oil prices soaring to $US100 a barrel in New York for the first time Wednesday night.

But RACQ general manager Gary Fites said NRMA’s prediction was based on the West Texas crude oil benchmark and not Australia’s fuel benchmark, Tapis crude oil (Asian sourced).

"At best, the West Texas crude price is symbolic of high oil prices internationally and it should have no direct bearing on what we pay here," Mr Fites said.

"We’re not in the business of denying high fuel prices but we are trying to hose down rash predictions that don’t do consumers any good."

Leyton Wood, who runs his own business Beaches to Port Plumbing, said fuel companies were "always profiteering" and escalating costs were burdening motorists and small business owners at the pump.

Mr Wood travels across Cairns and the beaches and said he spends $170 each week to run his two-year-old Hilux ute, filling his 65 litre tank twice.

"I get 510kms out of it and that’s really bad," Mr Wood said.

"It makes it hard to estimate running costs because fuel is always up and down.

"People in the business are thinking we’ll have to increase our fees to match the fuel but we don’t want to do that.

"It’s just a necessary evil."

Mr Wood said his yearly renewal costs including registration, insurance and public liability would cost him about $7000 this year.

"That is just how much it’s costing me to work," he said.

"It’s without even advertising."

Mr Evans said his concern was not only for pump users but the result it would have on inflation and interest rate rises.