High petrol prices expected to stay for remainder of 2023

📆 9/30/2023 2:09 AM
📰 SkyNewsAust

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Motorists are expected to continue paying more than $2 a litre for petrol as fuel prices rise further. Brent crude oil has reached nearly $100 USD per barrel. Industry experts believe the cost will remain around triple figures until at least the end of 2023. A nine per cent increase in fuel costs helped lift Australia's inflation rate for the first time in four months. Despite the inflation rise, economists do not believe the RBA will raise the cash rate when it meets in October.

Motorists are expected to continue paying more than $2 a litre for petrol as fuel prices rise further.Industry experts believe the cost will remain around triple figures until at least the end of 2023.

A nine per cent increase in fuel costs helped lift Australia's inflation rate for the first time in four months. Despite the inflation rise, economists do not believe the RBA will raise the cash rate when it meets in October.

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