A report from car insurance company RACQ has found that an hour's off-street parking in Brisbane is more expensive than an hour's parking in both Melbourne and Sydney.
Brisbane has the second-highest overall parking costs nationally, behind Sydney.
Although off-street parking is more expensive, with an hour costing drivers $28.61, on-street parking in Queensland's capital is cheaper than Sydney and Melbourne at only $4.90 an hour.
RACQ head of public policy, Rebecca Michael, described the off-street parking charges as "daylight robbery" that discouraged people from driving into the city.
“Since 2001, average weekday casual parking rates have more than quadrupled and there’s no justification for it – motorists are being ripped off," Dr Michael said.
“If we don’t see more competitive pricing of parking in the CBD, drivers will vote with wallets and favour suburban shopping centres where parking is cheaper or, better yet, free.”
The RACQ's CBD parking costs report compared the costs of parking in Brisbane, Sydney and Melbourne since 2011, sourced from the websites of car park operators and was collated by city, parking station and the duration of stay.
The RACQ is now calling for a "rethink" on how to attract visitors to the CBD.
"We find that motorists who are coming into the city for short-term are avoiding parking stations and their outrageous rates and they're actually looking for that on-street parking," Dr Michael said.
"That actually then contributes to motorists circling around looking for those on-street parks, which increases congestion."
Brisbane's off-street hourly rate increased 1.4 per cent since last year, and 1.7 per cent for two hours.
"Since 2010-11 many of Brisbane's parking rate increases have been above inflation, suggesting that parking operators are still in a comfortable oligopoly position and are able to extract maximum prices from motorists," the report said.
Parking centres operated by Brisbane City Council at King George Square and Wickham Terrace were the cheapest in the city, compared with private operators.