Petrol prices could top 110c per litre

RISING oil prices could push the price of petrol up to over 110 cent per litre, a top economist warned last night.

That would require the price of oil to go to $70 per barrel. With some international experts forecasting a price per barrel of $100, a figure of $70 per barrel was not excessive, said Alan McQuaid, chief economist, Bloxham Stockbrokers.

The Automobile Association is forecasting a rise to over 102c per litre by summer as demand forces prices up. Last year, oil per barrel averaged around $38.