Petrol prices highest in 10 months

THE average price of petrol has hit a 10 month high.

The national unleaded fuel price rose by an average 3.4 cents a litre to 152.0 cents last week, according to the Australian Institute of Petroleum.

This is the highest level since April 2012.

“The national average price has risen by a staggering 13.4 cents a litre in just the past seven weeks,” CommSec economist Savanth Sebastian said in a client note yesterday.

As a result, households are now paying $16 a month more on petrol since the start of 2013.

But Mr Sebastian said prices in the short term were likely to stay around current levels.

Last week, the average metropolitan price rose by 4.5 cents a litre to 151.4 cents, while the regional price rose 1.2 cents to 153.2 cents. Although unleaded petrol at some Sydney locations was as low as 142.4.

Tamworth’s unleaded petrol price was above the regional average last week. At 155.9 it placed Tamworth in the top 10locations for the dearest petrol in NSW. Unleaded petrol at Gunnedah was five cents per litre cheaper.

Diesel in Tamworth cost 156.1 per litre, more than six cents per litre dearer than retailers in Sydney. At Gunnedah diesel was selling at 153.9.

Adelaide had the cheapest average unleaded petrol after the price fell 5.3 cents to 142.5 cents a litre. 

Darwin remained the dearest, up one cent to 164.5 cents a litre.

The Singapore tapis price fell slightly over the weekend.

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