The price of petrol has soared in Brisbane with warnings that Sydney and Melbourne won’t be far behind.

Brisbane saw prices as high as $2.38 for a litre of regular fuel – outstripping current prices in the other capital cities.

It coincides with cuts to global fuel supplies and school holidays.

Data shows the cost of fuel is up almost 14 per cent over the past 12 months – with a rise of more than nine per cent just in August alone.