Australian Motorists Warned to Buckle Up for Higher Fuel Prices
Australian bowser prices has jumped to $2.11 for regular unleaded on average, from $1.55 in July.
TL;DR
- High fuel prices are expected to persist in Australia.
- Middle East conflict is escalating, leading to increased global oil prices.
- Oil prices have exceeded US$100 a barrel.
- Australian fuel prices have risen from $1.55 in July to an average of $2.11 for regular unleaded.
- Diesel prices have increased by almost 50 percent since June.
- Rising fuel costs are contributing to inflation concerns.
- The Reserve Bank of Australia might increase the cash rate in response.