31 Jul 2008

Lower retail petrol prices predicted by AA

6:09 am on 31 July 2008

The Automobile Association is predicting further drops in the domestic price of petrol within the next few days, as international crude oil prices continue to fall.

Following three cuts in the past fortnight, the average retail price for 91 octane is $2.06.9 per litre. Diesel is $1.83.9 per litre.

Based on recent trends, the AA says there could be another drop within the next couple of days.

It predicts another 4c per litre off petrol and 6c off diesel.

However, US crude rose 83 cents to $US123.02 by 1519 GMT on Wednesday - compared to a low of $US120.42 on Tuesday, the lowest since 6 May. London Brent rose 56 cents to $US123.27.

Oil is down from a record high of $US147.27 on 11 July.