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FED: Petrol headed for1 a litre

10 Nov 2008 5:50 PM

Petrol prices have fallen dramatically for the second time in a fortnight .. bottoming out at a 12-month low.

The Australian Institute of Petroleum says the national average price of unleaded petrol is now one dollar 33 a litre.

That's a drop of 6.7 cents in the past week.

Commsec chief equities economist CRAIG JAMES suggests the price could fall to a dollar a litre.

AAP RTV pvkmsaftm =0A