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Economics10d 5h ago
Westpac economists predict diesel could hit $3.07 per liter and petrol $2.68 per liter by year-end if the US-Iran ceasefire stalls, potentially pushing Australia's headline inflation rate to nearly 6 percent.
Australia, United States, Iran, Lebanon, Strait of Hormuz, New Zealand
Who
Westpac, Sian Fenner, Donald Trump
What
Westpac economists predict diesel could hit $3.07 per liter and petrol $2.68 per liter by year-end if the US-Iran ceasefire stalls, potentially pushing Australia's headline inflation rate to nearly 6 percent.
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, if stalled, could lead to adverse shipping conditions in the Strait of Hormuz and higher oil prices globally.
The Frontline Impact
How this affects you
If the US-Iran ceasefire fails, Australian households face record inflation and negative economic growth due to surging fuel prices and increased production costs, with New Zealand also experiencing significant repercussions.
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