Little chance of relief at the bowser

There's still a risk oil could reach $US150 a barrel if Ukraine tensions escalate, an analyst says. (AAP)

Motorists shouldn't expect relief at the petrol bowser any time soon, even though global crude oil prices dropped further to below $US100 a barrel on hopes of progress in Russia-Ukraine peace talks.

Commonwealth Securities senior economist Ryan Felsman says th situation is fluid and forecasts Brent crude oil will hover about the $US110 mark in both the June and September quarters.