Fed: Motorists warned to brace for surge in petrol prices

AAP General News (Australia)
08-04-2004
Fed: Motorists warned to brace for surge in petrol prices

Australian motorists are being warned to brace for further hikes in petrol prices as
fuel costs push past the $1-mark across the nation.

A Royal Automobile Club of Victoria spokesman says fears of an al-Qaeda attack on financial
institutions in America have led crude oil prices to hit a record $US44 a barrel.

DAVID CUMMING says oil traders and the futures markets are manipulating the prices
and not much can be done about it.

In Perth, the price of unleaded petrol peaked at 110 cents a litre today while regional
Western Australian motorists faced pump prices of up to 127 cents a litre.

Hobart averaged 105.9 cents today, compared with 103.9 last week, while the highest
price for unleaded fuel in Adelaide is already 103.9 cents a litre today.

Prices for unleaded petrol in Sydney and Melbourne are expected to vary between $1
and $1.07 a litre by early next week -- and it's already reached that in some parts of
Sydney today.

Meanwhile in Melbourne the highest fuel price was 106.9 cents per litre today, with
the average 97.7.

Prices in Queensland, where GST is rebated to motorists, hovered around 99.9 cents
a litre today, but were higher in the state's far north.

AAP RTV rb/bp/gjr/rp

KEYWORD: PETROL (MELBOURNE)

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