Gasoline in Australia Jumps to Highest Level Since March

AI Summary

Australian gasoline prices surged to their highest levels since March, driven by escalating Middle East hostilities pushing up crude oil prices internationally. This increase has also affected diesel prices nationwide, putting added pressure on fuel costs.

Fuel prices in Australia hit last week the highest level since March as the hostilities in the Middle East drove international crude oil prices to the highest in two months. Australia’s nationwide gasoline prices hit in the week ending July 26 the highest since the end of March, at US$1.27 (AUS$1.82) per liter, which is about a quarter of a gallon, according to the Weekly Petrol Prices Report of the Australian Institute of Petroleum published on Monday. Diesel prices also jumped nationwide last week to the highest since March, adding pressure…