Petrol prices to rise on North Coast over the next fortnight

MOTORISTS on the Far North Coast can expect to feel the effects of increasing petrol prices.

Pump prices are set to rise due to the weakening Australian dollar and the terminal gate price being pushed up by higher international demand.

The Commonwealth Bank's CommSec predicts the national average pump price will go up two or three cents a litre in coming weeks.

"The wholesale (terminal gate) petrol price has lifted more than nine cents a litre in the past month and is holding at 143.9 cents a litre, a 3½-month high," CommSec economist Savanth Sebastian said.

"The petrol price is likely to track higher over the coming fortnight.

"Not only is the global economy improving but the Aussie dollar is weak (lifting the imported cost of fuel).

"A higher petrol price is bad news for retailers, especially those selling non-essential or discretionary items.



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