Petrol prices spike with 'no relief in sight' for Victorian motorists

Victorian motorists have been warned to prepare for higher costs at the pump with a jump in petrol prices set to become the new normal.

Just two months ago, petrol was an average 135.8 cents a litre. Now, it’s averaging 157.6 - the most expensive since 2014.

The jump in price as meant the average Victorian household’s fuel bill has risen from $30 to a staggering $250 a month.

CommSec economist Craig James told 9News there is little good news for drivers.

“We’re of the view that motorists should get used to paying 150 cents to a 170 cents a litre,” Mr James said.

He explained higher pump costs are being blamed on the falling Australian dollar, constrained global oil supplies and tensions between the United States and Saudi Arabia over the missing journalist.

“Certainly that was one of the factors cited overnight for pushing up the world oil price,” Mr James said.

Grocery stores are also feeling the pinch, with some being hit by an extra 15 percent fuel levy by their deliverers.

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