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Bad news for the bowser as prices boom

Deborah Knight

It’s not looking good for Aussies heading to the bowser to fill up their cars.

Motorists have been stung with the biggest annual growth in unleaded petrol prices in almost a decade.

CommSec analysts say Australian drivers are spending an average of $240 dollars a month on visits to the servo, about $50 more than a year ago.

Chief Economist at CommSec Craig James tells Deborah Knight high prices won’t be letting up any time soon and will spike just as school holidays hit.

“Later this week it is likely we’ll start to see petrol prices creep up. Now is basically the time to fill up.”

Craig says Australia isn’t the only country feeling the heat, with high oil prices and increased demand being to blame across the globe.

“I suppose the other stinger for us is the fact that the Aussie dollar has come down over time so to be able to buy the imported crude costs us more.

“There’s not really a lot we can do expect shop around.”

Click PLAY below for the full interview 

Deborah Knight
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