There will be no Christmas joy at the bowser for motorists

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There will be no Christmas joy at the bowser for motorists, with national petrol prices expected to stay above $1.50 a litre for the festive period.

Petrol prices averaged $1.51 per litre in the past week and CommSec economist Savanth Sebastian says a lower Australian dollar and higher Singapore gasoline prices will keep prices inflated over Christmas.

"Motorists should expect to see fuel prices remain well above $1.50 a litre for the majority of the Christmas-New Year period," he said.

Prices dropped slightly in the past week, but the regional Singapore gasoline price has risen to a three-month high in Australian dollar terms, which will eventually filter through to Australian prices, Mr Sebastian said.

"Around 1-2 cents is likely to be added to the pump price over the next 7-10 days," he said.

He said motorists looking to save money should fill up around Boxing Day, which falls at the low point of the pricing cycle.

Sydney had the lowest average price during the week to December 15, at $1.47 a litre, while Darwin was the most expensive of the capitals at $1.70 per litre.

Higher fuel prices would be bad news for retailers hoping for stronger Christmas sales, Mr Sebastian said.
http://au.finance.yahoo.com/news/pet...045809460.html