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The New Daily
The New Daily
Business
Matthew Elmas

Petrol prices soar above $2 per litre amid warnings they could rise higher still

Oil Petrol Peter Khoury Scott Morrison Australia CommSec
Experts warn petrol prices are headed towards record highs amid a new surge in oil prices. Photo: TND

Australian petrol prices are tipped to reach record highs over the coming weeks as bowsers soar above $2 per litre despite recent cuts to fuel tax.

High global oil prices and service station price hikes are behind the latest surge, which comes as households suffer the worst cost-of-living squeeze in more than two decades.

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