Australia: $3 petrol prediction a ’scare tactic’

A prediction by Caltex that motorists could be paying more than $3 a litre for petrol within 10 years is an attempt to soften up consumers, Australia’s peak motoring group says.

The cover of Caltex magazine The Star predicts prices on service station noticeboards could soar to 334.9 cents within the next decade.


Among the reasons the company gives for its startling forecast are the relatively low price for petrol compared to markets such as the UK, a fall in the value of the Australian dollar and rising crude prices.

But the prediction drew an angry response from NRMA president Alan Evans, who said it was nothing more than an attempt to soften up drivers for future price rises.

“There is no way in today’s dollar terms that petrol should be $3 in a decade’s time,” Mr Evans said.

“They are trying to provide ready-made excuses for when they try and raise prices in the future.”

The Age