Petrol prices expected to fall this week

Motorists may be set for some relief at the bowser after average petrol prices fell from a three-and-a-half-year high last week.

The average price of retail petrol fell by two cents to 150.2 cents a litre in the week ending April 29, according to data from the Australian Institute of Petroleum.

CommSec economist Savanth Sebastian said a recent fall in regional and wholesale petrol prices should ensure further falls in the next seven to 10 days.

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He expects the national average pump price to fall by four cents a litre in the next fortnight.

"While it has certainly been a tough few months for motorists, it does seem like that a reprieve is around the corner," Mr Sebastian said on Monday.

Over the past month, regional oil prices fell by almost $US12.

"When you take into consideration that the Aussie dollar has managed to hold up relatively well over the same period, it certainly points to a pretty sharp fall in pump prices," Mr Sebastian said.