Woolworths will decide by the end of October whether to press ahead with a $1.6 billion IPO of its fuel business amid fears decade-high petrol prices

Woolworths will decide by the end of October whether to press ahead with a $1.6 billion IPO of its fuel business amid fears decade-high petrol prices and a clash between Coles and Viva Energy will dent potential investor demand. According to the Australian Institute of Petroleum the national average price of unleaded petrol rose 1.8¢ to 159.3¢ a litre last week, the highest level since July 2008. While demand for petrol is considered relatively inelastic, Coles blamed high pump prices and its supply deal with Viva for another sharp drop in  fuel volumes during the September quarter. Source: AFR.