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Petrol Price Rises Begin To Bite As Political Issue

Petrol prices are becoming a worrying political issue for the federal government, following a series of increases in recent weeks.

As unleaded petrol steadily climbs to the politically potent and symbolic one dollar mark, the pressure on the Howard government will grow.

The main reason for petrol price increases is the Middle East cartel, the Organisation of Petroleum Exporting Countries, which has been limiting oil production during this year. This has increased the price of a barrel of oil from $42 to $54 (Australian dollars). [Read more…]