Strong dollar caps petrol prices

Motorists can expect to see petrol price increases of around 5 cents per litre over the next few weeks. The price of crude oil broke through $US100 for the first time last week but the strength of the local currency has cushioned the impact on our petrol prices. In US dollars the price of oil has jumped by 30 per cent since the start of August but in Australian dollar terms the increase is only 20 per cent. Pump prices have been relatively stable over the past three months, hovering between $1.35 and $1.40 and this shouldn't change dramatically with the Australian dollar expected to stay high.

Source: The Australian Financial Review

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