Business News

What now for petrol prices? Global doom and gloom makes the outlook surprisingly positive

Written by Joaquin Vespignani, Associate professor, University of Tasmania

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In early March Russia’s invasion of Ukraine pushed global oil prices up by about 30% and Australians faced paying more than $2.15 a litre for petrol. Contrary to economists’ advice, the Morrison government decided to halve of the fuel excise for six months, reducing the cost of petrol by 22.1 cents a litre.

That discount...

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