When does a fuel crisis become a full-blown catastrophe?

It has been a month since the United States and Israel began their war against Iran, which means the critical oil transit route in the Strait of Hormuz has been closed for a month. As a result, the price of crude oil rose rapidly, bringing fuel oil with it. Diesel costs more than $3 a liter at petrol stations across Australia, while unleaded petrol costs up to $2.50 in metro areas and much more in the regions.

Economics reporter Jason Murphy joins the podcast to answer some important questions. Is the increase in costs due to the price increase? What can the government do to prevent prices of essential goods like food from spiraling out of control? And Australia Actually Are you at risk of running out of fuel completely?

Read the transcript here or watch the interview below.

Uninterrupted like that Crikey’s The new weekly podcast offering non-stop analysis of Australian news, politics and power. Each week she joins reader editor Crystal Andrews cricket Journalists will discuss the biggest news of the week. Listen at the link above Spotify or Apple Podcastsor watch YouTube.