SMH
·general
·1 hour ago
Australian fuel prices face July surge if Strait of Hormuz remains shut
Australia faces surging fuel prices after June 30 when the government's 26-cent excise relief expires, unless crude oil costs drop significantly. Petrol currently sits at $1.80 per litre following Middle East ceasefire-driven price relief. A U.S.-Iran peace deal reopening the Strait of Hormuz could ease prices, but analysts warn restoring global oil flows will take months.
Summary by Glance · SMH
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