'Expected': Fuel Shortage to Drive up Grocery Prices as Inflation Bites

'Expected': Fuel shortage to drive up grocery prices as inflation bites

Soaring oil prices pushing petrol to over $2 per litre in Australia could drive inflation to peak above five per cent, economists have warned.The conflict in the Middle East and Iran's blockade of the Strait of Hormoz is hitting Australian motorists hard at the bowser – but the impact will likely be felt beyond the fuel market.Economists at National Australia Bank (NAB) predict the post-war price of oil barrels, which have already surged past $…

Farmers warn grocery prices could rise as war sparks fuel supply fears

Farmers say consumers could soon feel the impact of fuel shortages and soaring prices at the checkout, as the closure of the Strait of Hormuz disrupts global supply chains.

On-farm fuel supply comes to a grinding halt as Iran conflict intensifies

Some farmers have been told not to expect fuel in the short-term.