Petrol could hit $3 a litre in one month if price growth stays the same
Petrol prices have climbed to new heights since the Middle East conflict began, and concern fuel costs may hit $3 a litre has begun to loom. But what would it mean for your weekly driving costs? We crunched the numbers by state and car type. Petrol prices have skyrocketed in the past week, with the national average pump price increasing to $1.98 a litre in the week to Sunday, 8 March – almost 20 cents a litre more than the annual average. In some states, including NSW and Victoria, the average is already more than $2 a litre. Conflict in the Middle East is partially to blame, but experts say widespread public panic about future prices is a more likely culprit. RELATED: Alarm as Aussies forced to buy petrol with Afterpay “There’s plenty of supply around … what’s happened here is that [people] have started to panic buy and there’s been quite some erratic [buying] behaviour that’s quite unprecedented,” Australasian Convenience and Petroleum Marketers Association (ACAPMA) C...