Petrol prices reach new highs - Higher Inflation - Up Goes the Interest Rates

PETROL prices crashed through the $1.40 a litre barrier in metropolitan areas across Australia today.
As yet another record price point was passed, federal Labor and the New South Wales and Victorian governments called for an inquiry into whether service stations were "price gouging" motorists.

Victoria's peak motoring body advised drivers to fill up as soon as possible amid predictions that pump prices hikes up to 145.9 cents a litre could become widespread by tonight.

Average pump prices started today under 131.9c a litre across all capital cities and increased by just a few cents during the day, the RACV said.

But some service stations in the capitals were attempting major price hikes, with highs of 145.9c a litre recorded in Melbourne and Sydney, 144.9 in Adelaide and 140.9 in Perth.

RACV manager of government and corporate relations David Cumming said the rises could become more widespread by evening if chains thought the market could handle an increase.

"This is another new high," he said.

"It will be a hell of a shock to Victorian motorists, and of course it won't just happen here, it will happen all across Australia," he said.

https://www.theaustralian.news.com.au/story/0,20867,18935647-31037,00.html

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It looks like that due to the price of the ever increasing costs of fuel, everything else is rising by so much that it is affecting the inflation rate which will increase the interest rates on home loans(etc).

Thus, we will see people spending even less yet again. The world has already seen an Oil Company created recession. Is another coming?

And ofcourse, the government is refusing to do anything about this because of their dogmatic ideology believing that the market is the only way fair way of doing things.

The Labor Party is the same no matter what you hear coming out of their butts as they speak.

All vote for the under dogs i reckon... the countries we live in all seem to be in the same state of disarray?? why?? WTF is going on?? so if we vote for the under dogs, i doubt they can f*** up any further!!

The days of gas guzzler cars are long over, except for certain countries that don't give a flying feck about the world's resources.

WHY don't governments insist that all new homes built should have environmentally friendly systems installed and that new cars have to meet maximum fuel consumption figures?

I cant see why manufactorus havent made bio friendly cars a big thing.. like the next fad.. i'd by one tommorrow!!