Record fuel prices still cheaper than Europe
Melbourne's unleaded petrol reached an all-time high yesterday of 162.9 cents a litre for unleaded fuel. More than 100 petrol stations across the city were charging the record figure, before dropping the price back to 159.9 cents. Retail prices for petrol, diesel and oil have risen worldwide due to political, environmental and economic factors. High prices are hurting consumers everywhere - even in countries such as Egypt, India and Indonesia where fuel prices are subsidised by the government to minimise consumer costs.