as posted here
THE price of petrol is heading back toward $1 a litre, an economist says amid continuing falling prices.
Nationally, the cost of unleaded fell by almost a cent in the past week, fresh figures from the Australian Institute of Petroleum reveal.
CommSec economist Savanth Sebastian says the fall in prices is far from finished.
"The key Singapore unleaded fuel price fell by over 12 per cent last week,'' he said, adding it was the biggest weekly decline in nearly eight months.
"This should translate into further savings for Aussie motorists.''
The strength of the Australian dollar against the greenback and oil companies' cutting of their margins in recent weeks mean the good news for motorists will continue.
"CommSec expects petrol prices to fall by two to three cents a litre over the next fortnight,'' Mr Sebastian said.
"In fact, motorists in some capital cities could be paying close to $1 a litre at the low point in the discounting cycle with the assistance of shopper dockets.''
as posted here
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