Episode Details

Australia’s fuel prices are soaring again, with unleaded gas nearing $2.10 and diesel climbing past $2.50, fueled by global oil hitting $100 a barrel amid rising tensions in the Strait of Hormuz. As the Reserve Bank battles stubborn inflation—now facing pressure from external shocks—it’s already raised rates three times this year, but households are feeling the squeeze while consumer spending remains surprisingly strong. Economists and markets are now betting on more aggressive moves, hinting at additional rate hikes before year-end, forcing the RBA to weigh whether its current strategy is enough—or if it needs bolder action to rein in prices without crippling jobs.

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