Petrol Prices Rising
Petrol Prices Rising – Petrol prices have returned to their pre-price war heights with the national average price of unleaded rising 3.7 cents in the week to March 7.
Fresh data from the Australian Institute of Petroleum shows the price of a litre of unleaded fuel has risen everywhere except the Northern Territory.
In Victoria the price rose 5.4 cents and only South Australian motorists copped worse with a 5.6 cent rise to an average of $1.26 a litre.
Last week the price changes were smaller and were falls rather than rises.
CommSec economist Savanth Sebastian blamed the sudden rises on profit margin pressures for the major oil companies.
“The heavy discounting was clearly an unsustainable scenario,” Mr Sebastian said.
“And after selling petrol for what was virtually below cost, petrol stations are once again increasing margins in an attempt to remain profitable.”
Petrol Prices Rising
Tags: Australian Institute Of Petroleum, Australian Motorists, Economist, Institute Of Petroleum, Litre, Major Oil Companies, Margin Pressures, Margins, Northern Territory, petrol prices, Petrol Stations, Price Changes, Price War, Profit Margin, Sebastian, Unleaded Fuel, victoria
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