Motorists should take advantage of the recent fall in petrol prices and fill up their tanks ahead of a modest rise expected over the next fortnight, a Commonwealth Securities (CommSec) economist says.
The Australian Institute of Petroleum weekly report showed the national price for unleaded petrol fell by an average 3.5 cents per litre to 143.9 cents in the past week.
The metropolitan price fell by an average 5.1 cents per cent to 142 cents, while the average regional price declined by 0.5 cents to 147.6 cents.
CommSec economist Savanth Sebastian advised motorists to "fill up now".
Given the modest rise in the wholesale price, it was likely that over the coming fortnight fuel prices would track modestly higher across most capital cities, he said.
"As such, CommSec believes that the national average petrol price could rise by as much as 2 to 3 cents a litre over the next fortnight," Mr Sebastian said in a note to clients on Monday.
The national average wholesale unleaded petrol price rose 0.9 cents a litre from a week ago to 137 cents, while the benchmark Singapore price rose 63 cents to $122.63 a barrel.
Mr Sebastian said an upward trend in the petrol price would mean that consumers remain conservative about spending.