Petrol prices tipped to rise

Petrol prices tipped to rise
A leading economist has warned petrol prices will start to climb over the coming months, as global oil costs hit new one-year highs.
The cheaper petrol prices motorists have been enjoying for some time are about to end says Craig James, chief economist at CommSec.
“The world economy is recovering, particularly the Asia region compared with other parts of the world. Demand for oil is rising, the oil price is moving up,” he said.
James, says petrol prices should continue to fall this week, but they are likely to rise by several cents a litre during the next month, as determined by the movements in the Australian dollar.

A leading economist has warned petrol prices will start to climb over the coming months, as global oil costs hit new one-year highs.

The cheaper petrol prices motorists have been enjoying for some time are about to end says Craig James, chief economist at CommSec.

“The world economy is recovering, particularly the Asia region compared with other parts of the world. Demand for oil is rising, the oil price is moving up,” he said.

James says petrol prices should continue to fall this week, but they are likely to rise by several cents a litre during the next month, as determined by the movements in the Australian dollar.

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