‘Clear and present danger’: fuel prices could rise by 30c a litre across Australia under IMF scenario
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This story was selected and curated by our editorial team in the Australia news category. Published on October 12, 2026 • Originally reported by Patrick Commins Economics editor. OMEGAZEPRIME provides independent news coverage and analysis for our readers. Stay informed with the latest developments.
This story was selected and curated by our editorial team in the Australia news category. Published on October 12, 2026 • Originally reported by Patrick Commins Economics editor. OMEGAZEPRIME provides independent news coverage and analysis for our readers. Stay informed with the latest developments.
IMF’s World Economic Outlook shows how a worsening Middle East crisis could affect global growth and inflation
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An International Monetary Fund scenario where global oil prices jump to US$130 a barrel over coming months could push Australian petrol prices up by another 30 cents per litre and pile pressure on the Reserve Bank to hike interest rates, economists say.
In its latest World Economic Outlook, the IMF modelled the impact on global growth and inflation from a worsening Middle East crisis that extended into next year, highlighting the “clear and present danger” to a resilient global economy from turmoil in commodity and bond markets.
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