Australia braces for another fuel price surge as global oil markets remain volatile, driven by escalating Middle East tensions. After a March spike of over 30% tied to Iran strikes, prices have dipped briefly but are now climbing again — with unleaded 91 nearing $2 per liter in cities. Economists warn prolonged conflict could push inflation to 5% by June, and in a worst-case scenario, oil hitting $200/barrel could spike inflation to 7.25%. With strategic reserves less effective and key shipping routes at risk, officials are on high alert as the economy faces mounting pressure.
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