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Prices sway in India and Australia as US-Israeli war on Iran fuels supply fear
Signage is seen for fuel prices at a petrol station in Melbourne. Source: AAP / JAMES ROSS/AAPIMAGE
The Middle East conflict is pushing global energy prices higher, triggering ripple effects across markets. Where India saw LPG cooking gas prices increase for the first time in nearly a year, fuel costs in Australian cities have climbed past two dollars. The crisis has also revived Europe–Russia tensions over energy sanctions and prompted G7 discussions, as the Australian government urges motorists not to panic-buy fuel.
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