Experts see higher fuel prices for drivers

Motorists can expect a further squeeze at the petrol pump with fuel prices tipped to rise by up to three cents a litre over the next fortnight as demand for oil rises on an improving global economy.

CommSec economist Savanth Sebastian says a healing world economy will lead to higher fuel prices.

"The bottom line is that motorists will end up paying more to fill up," he said in an investor note on Monday.

Petrol prices were tipped to be two to three cents higher over the next fortnight, Mr Sebastian said.

The average household monthly fuel bill had risen by $10 to $173 in the past month, he said.

Mr Sebastian said the key Singapore gasoline price had risen by $4.85 (3.9 per cent) last week to a 10-month high of $130.26 a barrel in Australian dollar terms.

The Australian Institute of Petroleum on Monday said the national unleaded fuel price rose by an average 2.2 cents a litre to 146.2 cents in the week ending on February 10.

The average metropolitan price rose 1.9 cents a litre to 144.5 cents a litre, while the regional price rose 3.1 cents a litre to 149.8 cents.

Adelaide had the cheapest unleaded petrol last week, down 0.9 cents to 136.1 cents a litre, while Darwin remained the dearest, up 1.9 cents at 161.3 cents a litre.

Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    0.9294+0.0007+0.08%
    AUDUSD=X
    0.5536+0.0001+0.02%
    AUDGBP=X
    0.6723+0.0002+0.03%
    AUDEUR=X
  • Commodities
    Commodities
    NamePriceChange% Chg