Long weekend prices are biting drivers. One comment threatened to make it worse.
Global oil prices rose after Biden suggested on Thursday that US and Israeli officials were discussing a possible strike by Israel against Iranian oil facilities.Global Oil prices rose after President Joe Biden suggested on Thursday that US and Israeli officials were discussing a possible strike by Israel against Iranian oil facilities. Biden also said he doesn't expect Israel to retaliate immediately against Iran.
Iran is a major producer of oil, and a worry is that a broadening of the fighting in the Middle East could not only choke off Iran's flows to China but also affect neighbouring countries that are integral to the flow of crude. Helping to keep prices in check, though, are signals that supplies of oil remain ample at the moment.Regular unleaded prices have reached an average of $2.22 per litre, setting a record high. In parts of Australia, the price of petrol has been going up over recent days too.The upcoming long weekend means drivers could be slugged with even higher fuel costs, with prices well over $2 per litre seen all over Sydney and Brisbane on Friday afternoon.
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