From CommSec:
According to the Australian Institute of Petroleum, the national average Australian price of unleaded petrol rose by 6 cents to 134.3 cents a litre in the week to January 15 – marking the biggest rise in almost two years but only the second rise in a month…
However it should be noted that lift in prices were driven largely by the lift in global oil prices, in addition to the vagaries in the discounting cycle. On a positive note for motorists there may be a reprieve on hand in coming weeks. In Australian dollar terms, the Singapore unleaded price – which we derive our fuel from – fell by almost $2.50 a barrel in the past two weeks and this should flow through to pump prices in around a fortnight’s time…
The production cuts announced by OPEC and non-OPEC nations are now being enforced. The early indications are that producers are already notifying customers in Asia, Europe and the US of cuts to oil deliveries from January. Importantly for motorists it means higher pump prices in the medium-term…
Filling up the car with petrol is the single biggest weekly purchase for most families. The average household fuel bill has lifted by $27 in the past 5 months to $161 a month – an 18-month high…
