Vic: Petrol prices set to hit record high, RACV

AAP General News (Australia)
04-18-2001
Vic: Petrol prices set to hit record high, RACV

MELBOURNE, April 18 AAP - Petrol prices were set to hit record highs after an increase
in wholesale prices, Victoria's peak motoring group warned tonight.

The RACV said the rise in wholesale prices could see motorists paying more than $1
a litre at the pump in Melbourne tomorrow and even more in country areas.

"We've been warned by oil companies that their wholesale price is about to go over
98 cents per litre," RACV government relations manager David Cumming said in a statement.

"That's the price before it gets to the pumps and starts to take into account the service
station operator's margin.

"Further wholesale price increases are also expected next week, which would make them
the highest on record."

Mr Cumming said the rise in the wholesale price was due to international movements
in the price of crude oil.

He said the imminent retail price rises would be a "savage blow" to motorists' hip pockets.

But he said motorists could have a brief chance to fill up before the price hike hit.

Mr Cumming said the imminent price rises meant it was vital for the Prime Minister
to fast track his inquiry into the petrol taxation system.

AAP bp/cjh

KEYWORD: PETROL RACV

2001 AAP Information Services Pty Limited (AAP) or its Licensors.