But it's good news for our motorists
WITH Australians warned to brace themselves for a shortterm spike in the price of oil due to Hurricane Katrina, there was good news yesterday for Rockhampton and Capricorn Coast motorists.
The RACQ was not expecting fuel prices for Central Queensland's coastal communities to go beyond 120c a litre in the short term.
"I suspect there will be a rise but I don't think it will go that high,'' said RACQ regional manager for CQ, Bob Sim.
"Motorists in western areas are already paying more than 120c a litre.''
Yesterday Rockhampton, Gladstone, Blackwater and Mackay motorists were paying some of the cheapest prices for unleaded fuel in Queensland at the 117c-alitre mark, according to the Shell petrol pricing index.
Apart from its enormous death toll, Katrina has wreaked havoc on oil-producing states in the US, halting 10% of the US refining capacity and 25% of crude oil output as it tore through Florida, Alabama, Mississippi and Louisiana.
"There have been a lot of oil platforms damaged and they've ceased producing in some areas,'' Mr Sim said.