Petrol tipped to be steady for fortnight

PETROL prices are tipped to remain steady over the coming fortnight after falling slightly in the past week, an economist says.

Commsec economist Savanth Sebastian says motorists can thank the strong Australian dollar for keeping fuel prices under control.

"Given the recent weakness in global oil prices and strong Aussie dollar should ensure that pump prices hold current levels despite the ending of the discount cycle across most states and territories," Mr Sebastian said in a statement on Monday.

Australian Institute of Petroleum figures show the average national price for unleaded petrol fell by 0.3 cents to 142.4 cents a litre in the week ending December 2.

The metropolitan price fell by 0.4 cents to 140.1 cents a litre, while average weekly regional price fell by 0.1 cents to 147.0 cents a litre.

Mr Sebastian said the key Singapore unleaded petrol price fell $2.70 to $115.71 in Australian dollar terms last week.

Melbourne had the cheapest unleaded fuel, down 2.7 cents at 137.4 cents a litre, while Darwin again had the dearest, down 1.1 cents at 159.9 cents a litre.

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