Back
71· Active
Economics10d 5h ago
Westpac economists predict diesel could hit $3.07 per litre and petrol $2.68 per litre if a US-Iran ceasefire stalls, potentially pushing Australia’s inflation to nearly 6 percent by Christmas.
Australia, United States, Iran, Lebanon, Strait of Hormuz, New Zealand
Who
Westpac, Sian Fenner, Donald Trump, Mehr
What
Westpac economists predict diesel could hit $3.07 per litre and petrol $2.68 per litre if a US-Iran ceasefire stalls, potentially pushing Australia’s inflation to nearly 6 percent by Christmas.
When
Tue, 16 Jun 2026 23:20:57 GMT · 10d 5h ago
Where
Australia, United States, Iran, Lebanon, Strait of Hormuz, New Zealand ·
Why
A fragile US-Iran peace deal, which includes lifting blockades and sanctions, could stave off higher fuel prices and inflation, but Westpac warns against over-optimism as Gulf oil production will take time to return.
The Frontline Impact
How this affects you
Australian households could face record inflation and negative economic growth if a US-Iran peace deal falters, leading to significantly higher fuel prices due to disruption in a crucial oil supply route.
Story chain
1 event in this threadNo related history yet - this is the origin event.
Verified Sources & Citations
No verified citations attached to this thread yet.