Middle east escalation sees oil prices climb sharply | ABC NEWS

5 hours ago The News Room

As a nation reliant on fuel across almost all of our industries, the prospect of higher petrol and diesel prices is, for many, more alarming than tariff talk.
00:00 With tensions in the Gulf ratcheting up, the government is warning Australians not to travel to Bahrain or Kuwait, as the escalation increases the chances of another fuel price shock.
01:41 Chief Business Correspondent Ian Verrender explains what increased oil prices could mean for interest rates.
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Read more here: https://www.abc.net.au/news/2026-07-24/oil-prices-houthi-iran-us-donald-trump/106952390
Tracking petrol and diesel prices around Australia: https://www.abc.net.au/news/2026-04-01/petrol-diesel-price-tracker/106513484

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