Petrol prices headed for $2 a litre

31 03 2011

WHAT once would have seemed “alarmist” is now a possibility as group warns of a price surge for “sitting duck” Aussie motorists.

It said the annual fuel bill of families could skyrocket by up to $2000 a vehicle, if ongoing tension in the Middle East continues to force oil prices up, The Daily Telegraph reported.

The NRMA also called on the Federal Government to develop a strategy to deal with Australia’s dependence on imported oil, saying motorists are “sitting ducks” when it comes to fuel prices.

NRMA president Wendy Machin said households should be bracing themselves.

“A couple of years ago we would have said $2 was alarmist, but in mid-2008 prices were close to $1.70 and 18 months before it was $1.10, a jump of 60c in that short time.

“At the moment $1.50 is fairly average at the bowser and we have this strong Aussie dollar well on parity or above that.

“So it is not unrealistic at all if we see continued strife in the Middle East and the dollar falls that we would be getting up to around $2 a litre.”

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