Fuel prices float back from five-year low
The Australian Institute of Petroleum says recent good fuel prices will soon be back to normal.
The analysts say the national average petrol price rose four cents per litre last week to 112.6 cents, increasing for the first time in 10 weeks.
At service station in some capital cities, the price went up by as much as 20 cents a litre in just the last few days.
Before last week - petrol had been at its lowest price in six years.
The Singapore gasoline price - which is a central part of determining Australian prices - rose by 15.8 per cent to $US67.95 a barrel last week.
The Singapore price is up 25 per cent over the last three weeks.
Economists say it will prompt further increase in the Australian petrol price in coming weeks.
The average unleaded price in major cities last week were as follows:
- Sydney 110.6 (up 8.9 cents)
- Melbourne 107.2 (up 4.6 cents)
- Brisbane 110.6 (up 7.5 cents)
- Adelaide 109.2 (up 9.3 cents)
- Perth 112.1 (up 1.8 cents)
- Darwin 128.4 (down 0.7 cents)
- Canberra 117.3 (down 0.3 cents)
- Hobart 123.0 (down 0.4 cents)