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The Guardian - AU
The Guardian - AU
Business
Peter Hannam

Australian petrol price hikes and market jitters set to continue as Ukraine crisis worsens

petrol pumps
Oil prices surged after Russian troops entered Ukraine and petrol prices in Australia are expected to push higher as a result. Photograph: James Gourley/AAP

Australians can expect higher petrol and gas prices and more volatile financial markets as a result of Russia’s aggression towards Ukraine but Australia’s economic rebound is unlikely to be derailed without a major escalation of hostilities, economists say.

Russian president Vladimir Putin ordered his nation’s troops into two renegade regions of neighbouring Ukraine on Monday (local time).

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