“IMF warns petrol prices could surge 30c a litre in Australia as Middle East crisis deepens” — what this page in the network covers. Australian motorists could face petrol prices up to 30 cents a litre higher if the Middle East conflict escalates and global oil prices climb to US$130 a barrel, according to economists reacting to the International Monetary Fund's latest World Economic Outlook. The IMF modelled a scenario where a worsening crisis extends into next year, disrupting commodity and bond markets and posing a 'clear and present danger' to the global economy. Such a spike would add to inflation pressures, potentially forcing the Reserve Bank of Australia to raise interest rates further.
The IMF's analysis underscores how vulnerable Australia remains to global energy shocks, with households already grappling with cost-of-living strains. Economists warn that sustained high fuel prices would ripple through transport and goods, complicating the RBA's efforts to tame inflation without tipping the economy into recession. The full version stays on the original page, which this listing opens directly.