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What now for petrol prices? Global doom and gloom makes the outlook surprisingly positive

  • Written by: Joaquin Vespignani, Associate professor, University of Tasmania
What now for petrol prices? Global doom and gloom makes the outlook surprisingly positiveshutterstock

In early March Russia’s invasion of Ukraine pushed global oil prices up by about 30% and Australians faced paying more than $2.15 a litre for petrol. Contrary to economists’ advice, the Morrison government decided to halve of the fuel excise for six months, reducing the cost of petrol by 22.1 cents a litre.

That discount...

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