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AAP

Politics

Poppy Johnston

More pain at the petrol pump as oil prices spike

Jim Chalmers Oil Gina CassGottlieb Petrol Australia

Another rise in cost of petrol is looming after a spike in oil prices. (Lukas Coch/AAP PHOTOS)

Australians could be slugged more at the petrol bowser next time they fill up but the federal treasurer has urged retailers not to gouge consumers.

Global oil prices have spiked as the conflict in the Middle East escalates and Treasurer Jim Chalmers has warned sustained high prices will have consequences for households and the economy.

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