Petrol warning for Melbourne motorists as oil prices skyrocket

Melbourne motorists are being warned they could pay $2 a litre for petrol within the next two months.

Unleaded fuel has now reached an average price of 183.9 cents per litre.

CEO of the Australasian Convenience & Petroleum Marketers Association, Mark McKenzie, says prices are “a rollercoaster ride”.

“The oil price has actually increased by 400 per cent since mid-April of last year,” he told Ross and Russel.

“When you add taxes and shipping and that sort of thing, the wholesale price that our service stations are paying for the fuel has increased from an average of 82 cents last April to $1.45 now.”

Press PLAY below to hear Mr McKenzie’s insight on what will happen to petrol prices in coming months