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Article: Fed: Petrol price means we're driving less
- Article from:
- AAP General News (Australia)
- Article date:
- December 10, 2007
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AAP General News (Australia)
12-10-2007
Fed: Petrol price means we're driving less
By Peter Veness
CANBERRA, Dec 10 AAP - Motorists are driving less because of high petrol prices, an
oil market analyst says.
The national average price of petrol is now at 139.3 cents per litre, up 1.4 cents
in the week to December 9.
"Consumers are responding to the high price by buying less," Commsec equities economist
Martin Arnold told AAP.
But Mr Arnold offered some hope ahead of the Christmas driving season.
"There is some light at the end of the tunnel.
"We see prices in the next weeks of about $1.35 to $1.36 in round numbers.
"A recent easing in global prices will be the driver of the ...