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$2 a litre here to stay as petrol pump records tumble

Angela Macdonald-Smith

Record petrol prices are likely to head even higher and motorists should get used to paying more than $2 a litre as global oil prices continue to climb, further complicating the fight to tame persistently high inflation.

Pump prices hit fresh average highs in Sydney, Melbourne and Adelaide in the past two weeks and as Brent crude oil prices edge closer to $US100 a barrel, industry sources say eye-watering prices could linger until the end of the year at least.

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Angela Macdonald-Smith writes on the resources industry with a focus on energy, including gas, oil, electricity and renewables. Connect with Angela on Twitter. Email Angela at amacdonald-smith@afr.com

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    Original URL: https://www.afr.com/companies/energy/2-a-litre-here-to-stay-as-petrol-pump-records-tumble-20230927-p5e7ye