Trevor Veale

With fuel at $1.30 a litre, good time to stay home

QUEENSLAND motorists are copping some of the highest fuel prices in the country.

And we can expect little respite from them.

Some prices on the Sunshine Coast topped $1.30 per litre for unleaded.

There were some 'bargains' to be had, however, with a couple of outlets at around $11.5 a litre.

In Brisbane, according to the motormouth fuel watch website, the average price was more than $1.36.

According to the site, prices in NSW were far cheaper, hovering around $1.20 per litre.

Drivers in Sydney have been paying almost $1.25 on average for the week ending May 29.

'We have seen domestic prices drift upwards, and this is likely to continue,' CommSec chief economist Craig James said.

'This means the super-cheap prices we saw earlier in the year, are not likely to be repeated anytime soon.'

Petrol prices in February and March were as low as $1.10 a litre after international crude prices fell to below $SU40 a barrel.

Strong competition has seen some petrol stations offer fuel at $1 a litre or even below.

Since then, however, the international $US50 a barrel and an improving US dollar, has driven up petrol prices.

AAP reports that Australia's retail petrol prices include shipping costs, taxes such as 39.5 cents per litre excise and the 10 per cent GST, plus administration and supply chain costs and retail margins.

The biggest influences, however, are international crude prices.

WHAT DO YOU PAY FOR FUEL THIS WEEK?

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