Petrol price down
Mon Nov 23 15:43:39 EST 2009
Mon Nov 23 04:43:39 UTC 2009
FED: Petrol price down
CANBERRA, Nov 23 AAP - The average price of petrol has fallen for the first time in a month.
Figures from the Australian Institute of Petroleum show the national average price of unleaded has fallen 0.4 cents to $1.21 a litre.
Prices got as low as $1.18 and as high as $1.25.
West Australians had a good week with prices falling almost three cents to $1.18, the lowest in the country.
The Top End remained the most expensive place across the continent to fill up.
Prices fell by 0.8 cents there but remained high at $1.30.
Commsec economist Savanth Sebastian has predicted national prices may fall by a further cent in the next week.
"Overall the mid-term outlook is that petrol prices continue to hover around $1.20 - $1.25 a litre as the rise in the Australian dollar counteracts the expected recovery in the oil price," Mr Sebastian wrote in a market update.
"Over the past week the Singapore unleaded price has remained relatively stable while the Australian dollar has eased marginally, effectively suggesting that prices should remain constant.
Globally, oil prices remained depressed on Friday trading in New York.
