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Economics10d 5h ago
Westpac economists predict that diesel will hit $3.07-a-litre and petrol will climb to $2.68 by the end of the year if the US-Iran ceasefire stalls, pushing Australia’s headline inflation rate to nearly 6 percent.
Australia
Who
Westpac, Sian Fenner, Donald Trump
What
Westpac economists predict that diesel will hit $3.07-a-litre and petrol will climb to $2.68 by the end of the year if the US-Iran ceasefire stalls, pushing Australia’s headline inflation rate to nearly 6 percent.
When
Tue, 16 Jun 2026 23:20:57 GMT · 10d 5h ago
Where
Australia ·
Why
A potential failure of the US-Iran ceasefire deal and an 'adverse' Strait of Hormuz reopening scenario could lead to higher oil prices.
The Frontline Impact
How this affects you
If the US-Iran ceasefire stalls, Australian diesel prices could hit $3.07/L and petrol $2.68/L by year-end, driving Australia's inflation to nearly 6 percent and potentially causing several quarters of negative economic growth, with a more pronounced impact on New Zealand.
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