Aussie Drivers Face Fuel Surge, Economy at Risk

0:00This is Corey, keeping Sydney in the know you're listening to Sydney News today. Australian drivers are facing skyrocketing petrol prices of about 40 cents per liter in recent weeks. This surge comes from rising oil costs tied to the conflict in the Middle East. Experts warned it could ripple through the whole economy. Freight companies say these higher fuel costs will pass straight to shoppers. They expect price jumps at supermarkets and stores by April as transportation expenses climb. Truck drivers are feeling the pinch hard. In South Australia, diesel has hit 240 per liter, nearly doubling some transport bills. Bosses they are confirmed they'll have to charge customers more to cover it. Regional towns report fuel shortages with bousers running dry or stations rationing supplies amid the demand spike. Retires are watching nervously as markets fluctuate, worrying about their savings. Economist note this could add 0.7% to bowl 8% to inflation if prices stay high.

1:00All eyes turn to the reserve bank next week, where another interest rate hike is now on the table. This episode is proudly sponsored by our partner. When you want calm, do not reach for your phone. Lay back and listen. S-O-L-L-I. SoleyPillow.com