The Briefing Iranian footballers in Aus evade handlers + Will petrol hit $3 a litre?
Mar 9, 2026
Dr Shane Oliver, Chief Economist at AMP, brings concise macroeconomic perspective. He discusses rising petrol prices, how Middle East tensions affect global oil and Australian pump costs. He covers fuel reserves, risks to gas exports and links between fuel shocks, inflation and interest rates. He also outlines likely fiscal responses and practical household steps to cope.
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Iranian Players Evaded Minders In Australia
- Five Iranian women's footballers reportedly evaded regime minders on the Gold Coast and are said to be in AFP protective custody.
- Sacha Barbour-Gatt and Chris Beery describe Trump and Julian Leeser's public reactions and visa revocation calls.
How Middle East Conflict Raises Our Petrol Prices
- Global oil shocks quickly raise Australian pump prices because crude is priced globally and most refined fuel comes from Asian refineries supplied by Middle East oil.
- Dr Shane Oliver explains 90% of Australia's refined fuel arrives from Asia while much of the crude input still originates in the Middle East, so world prices transmit here fast.
$3 A Litre Is Quite Possible
- A sustained disruption could push petrol toward $3 a litre as oil hit about $100 a barrel, adding roughly 40 cents per litre compared with pre-crisis levels.
- Shane Oliver notes each $1 rise in oil adds ~1c per litre and the longer Strait of Hormuz issues persist the higher prices can go.