Global supply problems lift petrol prices


Problems with global oil supplies have pushed the price of petrol to a nine-month high.
CommSec says the national average petrol price was almost $1.30 a litre last week and fuel was seven cents higher in Darwin and Canberra during the period.
CommSec economist Craig James believes petrol will become more expensive.
"It's likely that the average price will rise from round about $1.30 at the moment to between $1.35 and $1.40," he said.
"In other words, getting up to those record highs that we last experienced in June and August of last year."
Mr James says the price of fuel is at record levels in the United States and Singapore and the same supply pressures will force up petrol prices in Australia.
"The main driver is problems with refineries abroad - we've had outages, planned maintenance and unexpected incidents, which have happened to refineries in the US and Asia," he said.
"That's reduced global petrol supplies and pushed the price of gasoline or petrol up in most countries around the world."
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