Article: FED: Record crude oil price will see petrol hit $1.75 a litre


AAP General News (Australia)
06-07-2008
FED: Record crude oil price will see petrol hit $1.75 a litre

By Julian Drape and Kim Christian

CANBERRA, June 7 AAP - Petrol is forecast to hit $1.75 a litre next week due to a spike
in the cost of crude oil, but the government and opposition remain divided over how to
deal with the crisis.

Labor says the surge in price emphasises the need for FuelWatch to be introduced without delay.

But the opposition insists cutting the fuel excise is the only way to provide immediate relief.

The price of crude oil shot up $US11 overnight to a new high above $US139 a barrell.

Australians can expect to see the consequences at the bowser next week.

...

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