Petrol prices expected to rise again

Mozo

Thursday 09 August 2012

Petrol prices have been refreshingly stable in recent weeks, but Aussie motorists who thought that this would be a long-term trend are sorely mistaken.

According to CommSec economist Savanth Sebastian, fuel costs are set for another sudden rise in the coming weeks, the Australian Associated Press reports.

The latest figures released by the Australian Institute of Petroleum showed the average cost of unleaded petrol across the country fell by 0.1 per cent in the past week, but it seems this was merely a temporary reprieve.

Of course, a lot depends on the price of oil and Mr Sebastian has warned drivers not to get too comfortable with the rates currently seen at the pumps.

"The ongoing rise in regional oil prices should flow through to domestic pump prices in a fortnight's time," he was quoted as saying.

This is obviously a big blow for motorists – many of whom are already struggling to cope with the cost of running a vehicle.

One way to make savings is to compare car insurance quotes online, as there is every chance you are currently paying too much for your cover.

Have a question about car insurance? Ask the money gurus at Mozo Answers.ADNFCR-1761-ID-801425308-ADNFCR

Petrol prices expected to rise again
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