This week's three cent increase in petrol prices is being described as a premature move by the Automobile Association.

Z Energy announced the increase on its Facebook page on Thursday morning and BP also confirmed it is raising its prices by three cents a litre for petrol and two cents for diesel, citing "international product price rises".

The price of unleaded 91 increased to199.9 cents a litre and diesel to 142.9 cents a litre.

Automobile Association spokesperson Mark Stockdale says companies may be too quick in raising the prices.

Following a month of oil price cuts, he says the increase is not welcome.

'Let's hope prices don't start rising at the same speed they've been coming down.”

Mark believes companies could have held off from increasing prices 'because they hadn't passed on every last cent of the commodity price reductions”.

While Z Energy and BP have increased their prices, Gull announced it will hold its current fuel prices until at least Monday morning.