Petrol price plateaus at 17-month high

Petrol prices have plateaued at a 17-month high in the week leading up to Easter.
The national average price of a litre of unleaded is $1.29, information from the
Australian Institute of Petroleum released on Monday shows.
There are suggestions the sector is under pressure to drop prices in response to
wholesale drops rather than follow the traditional road of ramping prices up ahead
of the Easter long weekend.
Commsec economist Savanth Sebastian said the time delay between wholesale and retail
prices was perfectly timed to provide Easter motorists with a price drop.
"There is no excuse" for a price rise, Mr Sebastian told AAP.
He said there was about two cents in the cost at the pump that could not be justified.
"The time is just perfect in terms of the lead up to Easter," he said.
Comment was sought from the competition watchdog.