Fuel prices continue to rise

The cost of petrol decreased marginally this month from 133.3 cents per litre to 132.4 on average, the lowest price since April of this year, according to the latest AA fuel price survey. This is also despite a six-week low for international oil prices, due to a lower dollar, globally lower investor confidence, and lower demand for oil in the US and other major markets.

Despite the slight reprieve overall, petrol prices are up 18.5 per cent on the same time last year. Diesel is down 1.7 cents on average this month to 123.2 cents, again the lowest since April. This represents a 13.5 per cent price increase on this time last year for diesel.

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