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Are you ready for steep rise in Petrol price

ACCC chairman Rod Sims says the high price of petrol in Brisbane is "appalling". (AAP)

Following a weekend attack on Saudi Arabia's oilfields, global markets are recording steep price rises in the commodity. Analysts say Australian motorists will pay more at the bowser in coming days, and warn that it could be a long-term price-rise.

FuelTrac monitors how global wholesale prices of petroleum and oil translate to costs paid by Australian consumers across national petrol stations.

General Manager Geoff Trotter says the immediate oil supply shortage should translate to an extra 10 to 12 cents per litre of fuel in Australia.

"The potential exists at the retail end of the supply chain of petrol in Australia for retailers to add more than the underlying increase - say, 10c a litre - that could be attributable directly to this incident. So there is potential for motorists to be ripped off."

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