Description
Fuel prices are expected to surge when government petrol relief expires next week, with Brent crude hitting US$100 per barrel amid escalating Middle East conflicts. Australia has been hit with a 12.5% US tariff on exports, though the impact may be cushioned as most Australian exports go to manufacturers like China rather than directly to the US. The rising oil prices are flowing through to everyday grocery items and fertilisers, with economists warning of potential interest rate hikes as inflation pressures mount, particularly ahead of August's RBA decision.
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