Petrol prices have soared to nearly $2 a litre (US$4.88 a gallon) on average across Australia as the weak Australian dollar makes it more expensive for the country to import fuel. According to the Australian Institute of Petroleum’s latest report, the national average retail petrol price jumped 11.1 cents to $1.96 a litre in the…
Australian Retail Trade Remains Robust in September
Australian retail turnover reached another record high in September as consumers were still willing to spend despite interest rate hikes and increasing living cost pressures. According to the Australian Bureau of Statistics (ABS), retail trade climbed for nine consecutive months in September, rising by another 0.6 percent during the period, following a 0.6 percent hike…
Petrol Prices Already Tracking Upwards
Petrol prices lifted by almost 10 Australian cents (US 6.5 cents) a litre last week, with the national average unleaded sitting at $1.83 a litre. The rise coincides with the return of the full fuel excise tax on Wednesday, although petrol prices weren’t meant to surge immediately. Treasurer Jim Chalmers said it would take several…
Fuel Prices to Stay Cheap Longer in Regional Australia
Fuel prices in regional Australia could remain lower than urban prices for the next several weeks despite the reinstatement of the full fuel excise tax. The fuel tax reduction, which the previous Morrison government introduced in March to relieve living cost pressures, will expire on Sept. 28, as confirmed by Treasurer Jim Chalmers. The reinstatement…
UK Petrol Drivers Still Getting ‘Raw Deal’ Despite Record Fall in Pump Prices: RAC
Drivers of petrol vehicles continue to get a “raw deal” despite a record monthly drop in pump prices, according to a new analysis by the RAC. The British automotive services company said on Monday that the new prices “remain a long way off” what it believes to be fair. According to the RAC Fuel Watch analysis, the…
Petrol Prices Rise Across Australia Ahead of Fuel Excise Tax Reinstatement
Australian petrol prices have started to lift again ahead of the expiry of the fuel excise tax reduction in September. Data from the Australian Institute of Petroleum showed that while wholesale petrol prices dipped by 2.6 cents a litre (6.8 U.S. cents a gallon) across Australia in the week ending Aug. 21, the national average…
New Zealand Inflation Hits 6.9 Percent, Highest in Over 30 Years
New Zealand’s (NZ) annual inflation rate has reached its highest level in over 30 years at 6.9 percent, Stats NZ has revealed. “The 6.9 percent increase follows an annual increase of 5.9 percent in the December 2021 quarter, the previous largest annual movement since the 7.6 percent increase in the June 1990 quarter,” Stats NZ said….
Warning UK Petrol Prices May Hit £1.60 a Litre As Russia Launches Military Assault on Ukraine
British motorists are being warned over the possibility of petrol prices soaring to £1.60 a litre after Russia’s military assault on Ukraine sparked a hike in oil prices. The price of Brent crude oil hit its highest level in eight years after increasing by 6.3% to 102.90 US dollars per barrel shortly after 8am on…
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