Fuel prices set to go up again

Motorists should expect a squeeze on their budgets over the next fortnight with the petrol price set to rise up to three cents a litre.

The average price of unleaded petrol fell 2.7 cents to 142.4 cents a litre in the week ending February 12, data from the Australian Institute of Petroleum shows.

The national weekly average metropolitan price fell 3.9 cents to 140.9 cents a litre, while the weekly average regional price fell by 0.5 of a cent to 145.3 cents a litre.

But Commsec economist Savanth Sebastian says prices are likely to rise in the next two weeks.

"The Singapore unleaded price has surged by over $5 in Aussie dollar terms in the past week and should filter through to domestic pump prices in a fortnight's time," he said in a statement today.

"CommSec expects pump prices to rise by around three cents a litre over the next fortnight."

Australia's fuel prices are based on the Singapore benchmark cost as the city-state is the regional refining and distribution centre.

Adelaide had the cheapest unleaded petrol over the past week, down 6.8 cents to 137.1 cents a litre, while Darwin remained the dearest, flat at 154.2 cents a litre.