Why pump prices have jumped

As the Iran war enters its third week, the ripple effect is growing around the world as the global oil supply through the Strait of Hormuz is disrupted. 

In Australia, petrol and diesel prices are soaring and in some regional areas the bowsers have run dry.

Today, David Leaney, an international supply chain expert from the ANU on how panic buying is driving prices higher and why the government should start restricting sales.

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David Leaney, international supply chain management consultant and Lecturer at Australian National University