Petrol prices to jump soon: expert

The price of petrol is tipped to rise by up to six cents a litre over the next
fortnight as the effects of the global financial crisis fade away.
The crisis saw petrol prices plunge as people used less oil.
CommSec chief economist Craig James said those days were over.
"Motorists here in Australia are going to have to share some of the pain," he told AAP.
Mr James said the price Australian companies paid for their petrol had recently
risen by six cents a litre to $1.18 - a four-month high.
That rise hadn't yet been passed through to motorists but it very likely would be in
the coming days.
Mr James forecast a retail price rise of five or six cents a litre within two weeks.
The world oil price has been rising along with demand, as economies rebound from the
financial crisis. Mr James said the strong Australian dollar had insulated motorists
from recent price rises to some extent until now.
Petrol in Australia cost around $1.20 a litre for much of last year as the crisis
drove down demand, but Mr James said a price of $1.30 to $1.35 was more likely for
2010.