Petrol consumption slowed 4.8 per cent in the past two weeks, after falling 2 to 6 per cent in the first week of September. Around the country, prices yesterday were relatively steady at an average 132c a litre. Only Adelaide reported a significant jump — more than 3c a litre to 133.7c.

The summit, convened by NSW motoring body the NRMA, called on the Howard Government to direct the consumer watchdog to monitor petrol prices, and demanded ethanol-blended petrol, biodiesel and LPG to be made available in a proportion of service station bowsers.

NRMA Motoring president Alan Evans said oil companies had ignored an invitation to attend the summit because they could not justify the price hikes. “They didn’t want to come out and say `we have taken this opportunity to make extra profits’,” Mr Evans said. “When you look at the data there has been a remarkable three-fold increase in the refining margins for no apparent reason.”

PETROL consumption in Australia has fallen for the third week in a row as record prices prompt motorists to rein in spending.

Figures provided by the major oil companies to the federal Government show that in the past week sales of petrol were down 5.5 per cent on thecorresponding week in July.

Weekly data is being collected as part of an International Energy Agency program to identify oil supply and demand patterns in the wake of Hurricane Katrina.

The latest data suggests Australian motorists are continuing to react to high petrol prices, which hit a record last week, by reducing their buying.

Petrol consumption slowed 4.8 per cent in the past two weeks, after falling 2 to 6 per cent in the first week of September. Around the country, prices yesterday were relatively steady at an average 132c a litre. Only Adelaide reported a significant jump — more than 3c a litre to 133.7c.

While pump prices are substantially below the levels of two weeks ago, industry analysts are expecting them to increase next week, reflecting higher crude oil prices sparked by Hurricane Rita, which is expected to cross the US Gulf coast by the weekend.

Rita is threatening Texas, which is home to the biggest concentration of refineries in the US, accounting for 26 per cent of total capacity.

Yesterday, crude oil for November delivery rose US80c, or 1.2 per cent, to $US67.60 a barrel in after-hours trading on the New York Mercantile Exchange.

A petrol crisis summit yesterday heard the oil companies had failed to convince the community they were not profiteering from the price spike.

The summit, convened by NSW motoring body the NRMA, called on the Howard Government to direct the consumer watchdog to monitor petrol prices, and demanded ethanol-blended petrol, biodiesel and LPG to be made available in a proportion of service station bowsers.

“Motorists, fuel users and the broader community are hurting,” the summit communique said.

NRMA Motoring president Alan Evans said oil companies had ignored an invitation to attend the summit because they could not justify the price hikes. “They didn’t want to come out and say `we have taken this opportunity to make extra profits’,” Mr Evans said. “When you look at the data there has been a remarkable three-fold increase in the refining margins for no apparent reason.”

Average price for one litre of unleaded petrol, cents

……………….. Wednesday … Yesterday … Change

Sydney ……. 128.0 ………… 128.5 ………. +0.5

Melbourne … 127.1 ………… 126.1 ………. -1.0

Brisbane ….. 120.9 …………. 119.0 ……… -1.9

Perth ………. 130.4 …………. 130.4 ……… 0.0

Adelaide …… 130.2 ………… 133.7 ………. +3.5

Hobart ……… 135.4 ………… 135.7 ………. +0.3

Darwin …….. 135.9 …………. 135.9 ……… 0.0

Source: Shell Australia

Also published in The Advertiser.