Business Services Industry
Petrol pain.
Australasian Business Intelligence, September, 2005
Byline: Tom Skotnicki
Sep 22, 2005 (BRW - ABIX via COMTEX) -- Higher petrol prices have increased the monthly bills of most motorists by roughly $A40. Alan Oster, the chief economist at National Australia Bank, thinks the higher prices will led to pressure for extra tax
cuts. He estimates that this year's gross domestic product would fall by up to 0.5 per cent due to a $A0.30 rise in petrol prices to $A1.30 per litre. Craig James, of CommSec, thinks rising petrol prices have caused people to reduce their discretionary spending. Chris Richardson, of Access Economics, thinks the oil price is nearing the top of the cycle.
Publication Date: 22 September 2005
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