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1.Market Observations, 8.Was Sticky

5 Oct 2018 (AFR) – Petrol prices heading towards psychological $2 a litre mark

(5 October 2018, AFR, p10, by Mark Ludlow)

‘A falling Australian dollar and higher international oil prices could create a perfect storm to push petrol prices above $2 a litre, costing motorists and businesses hundreds of millions of dollars extra a year. Although Australian Competition and Consumer Commission chairman Rod Sims warned petrol companies about inflated margins after the price at bowsers hit $1.90 a litre last weekend, the variable currency and fluctuations in oil price will have the biggest impact on whether prices top the psychological $2 a litre mark before the end of the year.’

Read more at AFR.com (might need AFR access, or try: AFR.com/trial)

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