Petrol price to jump by 9 cents per litre at midnight

Petrol will be increasing by 9 cents per litre from midnight, according to the Department of Energy. 

This will apply to both grades of petrol, namely 93 and 95, or ULP and LRP, and applies to its retail price.

Diesel's wholesale price will be increasing by 33 cents per litre, while illuminating paraffin will be increasing by 8 cents per litre wholesale. The single maximum national retail price for illuminating paraffin will increase by 10 cents per litre.  

At the end of May, the Automobile Association said it expected a substantial hike in fuel prices, saying the carbon tax would likely have an impact. "Any number of current issues could impact the fuel price in the second half of the year, and [we advise] against relying on fuel price stability in the short to medium term. 

"We suspect there may be more economic storms ahead," the AA said.