Russia's Ukraine invasion could push Australian petrol prices above $2 a litre & raise interest rate
- avawilliams012
- Mar 4, 2022
- 1 min read
Trade sanctions on Russia will have little direct impact on Australian producers, but higher prices will still be felt here, analysts say.
Russia's attacks on Ukraine have seen the global oil price shoot up to levels not seen in years, with grain and other commodity prices also surging.
Analysts say the impact will be felt in different ways in Australia, as the market disruptions ripple through supply chains.
There are estimates average petrol prices could hit $2.10 a litre.
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