Petrol rises on political unrest

Last updated 10:03 03/03/2014

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Petrol prices have moved for the first time in six weeks, jumping 2 cents a litre as crude oil prices rise because of political unrest in Libya and Venezuela.

Z Energy led the rise in fuel prices late last week, the first price increase since late December.

A litre of 91-octane now costs 217.9c and diesel 151.9c.

AA PetrolWatch spokesman Mark Stockdale said the price rise was not unexpected, given crude oil prices were up about US$3 a barrel.

This was partly due to political unrest in Libya and Venezuela, he said.

Prices had fallen on January 15 but since then the imported cost of petrol had risen about 4c a litre.

The cost of diesel had also risen about 3c a litre.

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- Fairfax Media


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