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Fuel Prices Set to Soar Ahead of Christmas Amid Middle East Tensions

Guavy AI Editorial Team
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Australia's motorists are bracing for a painful Christmas due to rising fuel prices. The recent escalation of tensions between the US and Iran has led to an increase in oil prices, with Brent Crude reaching $US102 ($A147) a barrel.

The Australian government remains focused on ensuring fuel security, but Energy Minister Chris Bowen acknowledged that the situation is getting worse in the Middle East.

Australia still has 41 days' worth of petrol supplies and 32 days' worth of diesel, with another 3.3 billion litres set to arrive next month, but NatRoad chief executive Warren Clark warned that higher freight costs will trickle down to other areas, such as groceries and presents.

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