Episode Details

Oil prices skyrocket, causing fuel prices to soar in Australia. The Middle East conflict, supply disruptions, and infrastructure damage have led to a sharp increase in Brent crude, pushing it above $115 a barrel. Australians are feeling the impact, with fuel prices reaching $2.42 a liter in some areas. Wholesalers are rationing supplies, and motorists are stocking up, fearing shortages. The ACCC is monitoring for price gouging, and economists warn this could push inflation above 5%, pressuring the Reserve Bank to raise interest rates.

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