Fed: Petrol prices due to rise

AAP General News (Australia)
04-14-2006
Fed: Petrol prices due to rise

Petrol prices are steady on the first day of the Easter weekend .. but motorists have
been warned to expect a jump any day.

Federal Treasurer PETER COSTELLO says Australia's seeing the effects of a record high
in world oil prices .. but others say Australia is not investing enough in alternative
fuels.

Mr COSTELLO says while demand is strong .. oil prices will be strong .. until supply is boosted.

He says the best news would be an increase in supply out of Iraq .. more certainty
in Iran .. and more certainty out of countries like Nigeria and .. thus more reliable
supplies.

Earlier this week .. analysts had predicted petrol could hit a record high of one-dollar-40
a litre .. but this hasn't happened so far.

AAP RTV kl/wz

KEYWORD: PETROL (MELBOURNE)

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