From CommSec:
According to the Australian Institute of Petroleum, the national average Australian price of unleaded petrol rose by 1.0 cent per litre to 120.9 cents per litre in the week to October 16. Prices rose in all capital cities except Melbourne last week…
Last week the key Singapore gasoline price rose by US$1.60 or 2.6 per cent to a 12-month high of US$63.80 a barrel. In Australian dollar terms the Singapore gasoline price rose by $2.01 a barrel or 2.5 per cent to an 11-month high of $84.15 a barrel or 52.92 cents a litre…
A year ago the national average petrol price was $1.28 a litre. Today, it stands at $1.21 a litre. But the key Singapore gasoline price has lifted to 12-month highs on expectations that major oil producers will crimp production. So motorists need to brace for pump prices edging another 3-4 cents a litre higher. Still, the stronger currency should ensure that prices hold below the levels of a year ago.
Petrol is the single biggest weekly purchase that most families make. So petrol has a big impact on retail spending. In addition, across the globe higher petrol or gasoline prices create a risk for inflation and thus interest rates. Over the last two months, the cost of filling a car with petrol in Australia has lifted by around $6. The good news is that the stronger currency has kept pump prices below recent highs set in June…
The cost of jet fuel hit 15-month highs last week and prices stand 76 per cent higher than levels set in mid-January this year.
