Petrol prices are at a four-month high and drivers will need to get used to paying a little more at the pump, new figures show.
The average price of petrol across Australia was 119.1 cents per litre in the week ending May 29, following a rise in oil prices and a slip in the Aussie dollar, CommSec chief economist Craig James says.
Drivers in Sydney have been feeling the worst of the price hike, with Mr James citing research by the Australian Institute of Petroleum that shows it was the most expensive capital city with an average price of 124.8 cents a litre.
Mr James said motorists will need to get used to pump prices around 122 cents a litre.
"While at 4-month highs and up from lows in late February and early April, petrol is still around 18 cents a litre cheaper than a year ago," Mr James said in a research note on Monday.
Mr James also noted that, thanks to fuel pricing vagaries, Adelaide had replaced Sydney as the most expensive city for fuelling up - at least on Monday - following the end of the discounting cycle.
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