Diesel prices across Australia could surge beyond $3 a litre as Trump eyes cut to US fuel exports

AI Summary

Diesel prices in Australia might rise beyond $3 per litre due to potential US fuel export cuts promised by Donald Trump amid stalled talks with Iran. This escalation in fuel costs increases inflation risks and could prompt further interest rate hikes in Australia.

Fuel costs have risen to levels not seen since early April, adding to risk of inflation and interest rate hike Australian diesel prices could surge above $3 a litre if Donald Trump cuts off US diesel exports amid floundering negotiations with Iran. Fuel costs have risen to levels not seen since early April, adding to inflation risks and making another hike in interest rates all but certain. Continue reading...