Middle East Conflict Threatens Another Fuel Price Surge in Australia
Australia is bracing for another surge in petrol and diesel prices due to the escalating conflict in the Middle East. The widening disruption has already triggered sharp increases in crude oil costs and refined fuel margins, also known as 'product cracks', according to Ampol.
The company warned that if these elevated costs persist, they will lift the price of imported fuel into Australia and flow through to motorists in the weeks ahead.
Ampol's CEO Matt Halliday stated that this year's conflict has caused 'unprecedented disruption' to global energy markets, placing extraordinary strain on global supply chains. He said their refinery performed reliably, operating at maximum production and benefiting from rising prices for equivalent imported products.