Unleaded Fuel Could Reach $2.00 A Litre, Premium Petrols Overpriced Photo:
Mike Stevens | Apr, 29 2010 | 4 Comments

UNLEADED fuel prices are headed toward $2.00 per litre as the global economy recovers to pre-crisis levels, Motor Trades Association SA Executive Director John Chapman said this week.

Mr Chapman said that global trends were already pointing to an average price of $1.50 per litre for unleaded petrol in the near future.

"At the moment we are in this hiatus where the oil price has stabilised to some degree, but when world demand picks up I can see us rapidly moving back to prices of $1.50 heading towards $2.00," Mr Chapman told News Ltd.

The MTA SA is pushing for the Federal Government to better promote competition in the industry, where large retailers Coles and Woolworths are becoming increasingly more powerful.

Mr Chapman said that the fuel industry must also be forced to reveal its pricing structures.

"The pricing structure is very murky and makes it very difficult for the independents to understand the market, let alone compete in it," he said.

In Victoria, RACV Chief Engineer for Vehicles, Michael Case, says motorists are paying too much already for premium unleaded petrol, with the margin over regular unleaded rising 40 percent for "no justifiable reason".

“The increasing price gap between fuels is disturbing. We see no reason why motorists should be paying more,” Mr Case said.

“Many vehicles, particularly new vehicles from Asia and Europe, require premium fuels leaving motorists with little choice but to pay the increased prices. RACV is concerned that the price of premium fuels will continue to rise forcing motorists to pay higher prices in the future."

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