11 Apr 2011

Another fuel price rise expected

12:00 pm on 11 April 2011

The Automobile Association expects another increase in retail fuel prices, after a surge in the price of oil over the weekend.

Brent crude rose $US4 per barrel on Saturday, to $US126.91 p/b - the highest for 32 months. This is blamed on a weakening dollar and tension in Libya and the Middle-East.

The AA expects domestic petrol companies to increase retail fuel prices in the coming days.

It says the current retail price reflects costs from February, when oil reached $US117 per barrel.

The AA says a strong exchange rate offset any immediate increases at the pump when oil started to climb last week.