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Petrol Prices Up, Still Hovering Near $1.30 Photo:
Mike Stevens | Jun, 17 2010 | 1 Comment

New figures from the Australian Institute of Petroleum show that the national average petrol price rose 0.2 cents in the past week, to 128.2 cents per litre.

Prices are expected to rise over the next fortnight, but more than one or two cents is unlikely. The national average petrol price continues to hover near $1.30 per litre, as it has for the past three months.

While the rise has been uniformly minimal, Canberra, Sydney and Hobart have seen a drop of about 0.1 cents per litre, to 125.6, 126.1 and 132.4 respectively. Adelaide has fared even better, falling 0.4 cents to 125.8 c/l.

Prices are up elsewhere, Melbourne rising 0.7 cents to 127.7 cents per litre, Brisbane up 0.6 cents to 128.2 c/l, and Perth and Darwin up 0.8 cents each to 128.1 and 131.0 respectively.

The Singapore MOGAS 95 unleaded petrol price, the benchmark under import parity pricing for Australian fuel, rose by US26 cents to $83.70 a barrel in the last week. It's a six-week high in Australian dollar terms, equating to a rise of about 20 cents to $99.06 a barrel.

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