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AAP

Business

Steven Deare

Lofty petrol prices tipped to move higher

Motorists are seeing high prices at the petrol pump amid global supply fears. (AAP)

Motorists have been warned lofty prices at the petrol pump will likely move higher as Russia's threat to Ukraine and a recovering global economy raise oil prices.

The price of oil has surged since Russian troops raised fears they may invade Ukraine by carrying out drills near the border. The price of Brent oil rose to about $US90 per barrel.

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