Combined with the 50 basis points rise in February and March in less than 2 months households are paying the equivalent of a 90 basis point rise in interest rates.
Thu 26 Mar 2026 14.00
Photo: AAP Image/Darren England
The petrol price figures from yesterday now show that unleaded prices have risen 31% since the Iran War began – up some 59.5 cent per litre.
Earlier last week, senior research fellow at the Australia Institute, David Richardson calculated the impact of petrol price rises compared to the cost of a 25 basis points interest rate rise. Last Friday we estimated it at roughly the same cost.
Now the increase in petrol prices is costing Australians around $784 million – i.e. that’s how much extra we’re paying for fuel. By comparison the cost of a rate rise is just $495m
So the cost of the petrol price rises so far is equivalent to 1.6 times the rate rise or a 40 basis points rates rise.
Combined with the 50 basis points rise in February and March in less than 2 months households are paying the equivalent of a 90 basis point rise in interest rates.
That. Is. Brutal.
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