AAP General News (Australia)
02-01-2001
Fed: Treasurer predicts petrol price hike tomorrow
CANBERRA, Feb 1 AAP - Treasurer Peter Costello today predicted petrol prices would
rise by up to nine cents tomorrow, but argued it was not a result of the petrol excise
hike overnight.
The rise would be a consequence of competition and world oil prices, he said.
"Today you will find, and I'll make this prediction because it generally happens on
a Friday before a weekend, you will find prices will move by seven or eight or nine cents,"
Mr Costello told ABC radio.
"They generally do on Fridays.
"That is not a consequence of excise. That is a consequence of profit margins, competition
and the underlying determinant, which is the world oil price."
MORE lm/maur
KEYWORD: PETROL COSTELLO
2001 AAP Information Services Pty Limited (AAP) or its Licensors.
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