Petrol prices may fall after Middle East ceasefire | 7NEWS

2 weeks ago The News Room

A ceasefire announcement between America and Iran has caused global oil prices to plunge approximately 8% to $94 per barrel, raising hopes for relief from record high petrol prices in Australia. Regular unleaded petrol has reached approximately $2.50 per litre, with the NRMA expressing optimism that price reductions could begin soon, though the full effects may take months as ships navigate through the Strait of Hormuz. The Prime Minister is travelling to Singapore to secure fuel supply arrangements.

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