Petrol prices could surge amid Middle East tensions
Mar 01, 2026•2 min
Listen to this episode in Metacast mobile app
Don't just listen to podcasts. Learn from them with transcripts, summaries, and chapters for every episode. Skim, search, and bookmark insights. Learn more
Episode description
Petrol prices in Australia could increase by 6-10% due to Middle East tensions affecting the Strait of Hormuz, with potential rises of approximately 30 cents per litre if oil increases by $30 per barrel. The price surge may impact inflation, as petroleum products comprise 12% of Australia's CPI basket, with indirect exposure affecting items like synthetic materials and airline tickets. The government's fuel excise of 51 cents per litre could be reduced as a policy response if elevated oil prices persist.
See omnystudio.com/listener for privacy information.
See omnystudio.com/listener for privacy information.
For the best experience, listen in Metacast app for iOS or Android