in the hope that will get things going, but when Iranian drones fly over and create explosions in the Saudi Arabian desert, it pulls the Australian economy in the opposite direction.
For the average Australian household, mortgage payments are higher than fuel costs . So you might think that a petrol price hike has less impact on the economy. But of course, petrol prices are involved in the cost base of almost every product we buy. Whether it’s an apple from the supermarket or a ride in an Uber, the cost of petrol is hurting the supplier and squeezing their margins.The whole global economy has been hanging by a thread recently. Growth is timid around the world and confidence it will recover is almost totally absent.It all looks like a big pile of tinder just waiting for a spark.
Damage to oil/gas infrastructure from weekend drone attacks at Haradh Gas Plant in Saudi Arabia have sent oil prices skyrocketing. Picture: SuppliedThe two major powers of the Middle East sit on opposite sides of the narrow Persian Gulf and are mortal enemies. They’ve been backing different sides in the long-running war in Yemen, and now it looks like the conflict is spilling over.Donald Trump has said on Twitter that theSaudi Arabia oil supply was attacked.
Oil chart says no. Retraced 50%. There's also a two week lag in pump price. 'will go through the roof' alarmist click bait.
Price gouging again.
Any excuse for them to jack it up and leave it there citing whatever reasons for not being able to again decrease it. It's a rort, and the consumer bends over, as does the spineless acccgovau, and the oil companies just 😂🤣😂
Another alarmist non-story from this shambles of a news outlet. Saudi Arabia expect to be back at full production by then end of the month. Oil prices plunged 6.6% overnight. Do some research.
Mad max world coming soon
Crude was double this price a few years back.
It was 167.9 here in Greensborough Vic before the explosions, this morning 171.9
Here we go again 'Oh woe is me I live in Australia therefore I'm going to get ripped'. Guess what the same thing will happen everywhere else as well and ours still be amongst the cheapest in the world when you take into account incomes
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