Don't kiss $1-a-litre petrol goodbye: ACCC petrol chief
21 Jan 2009 2:30 AM
There's good news for motorists .. petrol could drop back under one dollar a litre.
The country's petrol policeman says petrol prices won't soar back above a dollar 60 a litre any time soon.
The Australian Competition and Consumer Commission's petrol chief .. JOE DIMASI .. says the collapse of the world economy is keeping a lid on petrol prices.
Unleaded petrol was selling at around a dollar and five cents in some capital cities yesterday .. up from about 90 cents a litre earlier in the month.
Mr DIMASI says the price has crept up because of a rise in international oil prices .. and it will probably creep up a little more over the coming fortnight.
But that's still well down from the country's peak of $1.60 .. reached during economic boom-times last year.
