The average price of unleaded fuel has risen to the highest level since 2014. The two major factors in this rise has been the fall in the Aussie dollar and rising crude oil prices.
According to analysis from Commsec using data from Australian Institute of Petroleum, the average price for unleaded petrol rose 1.8 cents to 157.6 cents last week, the highest level seen since January 5, 2014.
Commsec chief economist Craig James advises that “motorists should get used to prices between $1.50 and $1.70 per litre.”
With no relief insight short-term, motorists could consider being strategic with your petrol, aiming to avoid weekends where possible, and utilising shopper dockets! Furthermore, websites such as www.petrolspy.com.au could be a useful way for motorists to save money at the bowser!