The Australian Competition and Consumer Commission today warned motorists that petrol prices may be higher in the next week.
Commissioner Joe Dimasi said Singapore Mogas petrol prices and movements in the Australian/US dollar exchange rate are very important in influencing domestic petrol prices.
"As a result of a slightly weaker exchange rate and stronger Singapore Mogas prices over recent days, petrol prices may be a bit higher over the next week."
As identified in last week's ACCC report on unleaded petrol prices, in 2009, the cheapest day to purchase petrol has been Wednesday in Sydney, Melbourne, Brisbane and Adelaide. In Perth, it has usually been Tuesday. Prices have generally peaked on Thursday or Friday in Adelaide and Friday in the other major capital cities.
"With New Year's day being on Friday, motorists should fill up earlier in the week," Mr Dimasi said.