The prospect of higher energy prices may also delay the next Reserve Bank rate cut to until August instead of July, economists say
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Australian motorists could be paying $2 a litre for petrol in coming weeks, after US military strikes on Iranian nuclear facilities triggered a lift in oil prices on Monday.
As the IMF warned that turmoil in international energy markets posed a threat to global growth, analysts said higher fuel and power costs would be another blow to households still struggling with the high cost of living.