More pain at the pump

HOLIDAYING families are feeling the pinch as Hobart fuel prices reach their highest point since 2014 with no relief in sight.

While the national average price of unleaded petrol fell by 4.3 cents to 145.5 cents per litre in the past week, Hobart and Darwin prices surged, according to the Australian Institute of Petroleum.

“The weekly average price of unleaded petrol rose by 0.2c to 158.3c a litre in Hobart – the highest level in 3½ years,” said Commsec senior economist Ryan Felsman after crunching the latest figures from the petroleum body.

Darwin prices rose by 0.7c to 156.7c a litre last week – also a 3½-year high.

The price surge adds to other cost-of-living pressures, especially during the school holiday period with transport costs eating up more than an eighth of the annual household budget, according to a national motoring body.

Nearly three quarters of families surveyed by the NRMA found the sting of costof-living pressures was “particularly prevalent” during school holidays and admitted budgets were regularly blown during those times.

The survey, released yester- day, also found more than 70 per cent of families sacrificed entertainment, leisure activities and dining to afford a family holiday.

“It’s pulling back on those leisure activities and time with your family that’s able to fund just your average daily expenses such as paying for fuel, tolls and parking,” said NRMA Group chief executive Rohan Lund.

“During the school holidays is when it’s really starting to hurt . . . it’s already pretty tough and it’s really starting to bite,” Mr Lund said yesterday.

RACT mobility services general manager Darren Moody predicted the increase in fuel prices eight weeks ago and sees no short-term relief for local motorists.

Mr Moody said the wholesale price was driven by global oil prices.

“In this cycle we could be paying in the mid-to-late $1.50s for a couple of months to come, maybe even a bit higher,” he said.

The pump pain has eased along Australia’s eastern seaboard. In Sydney, unleaded petrol prices are the lowest in three months.

Global prices for crude oil have been falling after producer countries agreed to lift production last month.

— with AAP