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Australia braces for potential price increases amid Middle East crisis
Since the article's title is not specified, the content primarily discusses expectations of rising fuel and interest rates in Australia as a result of the escalation of the Middle East crisis and the increase in global oil prices above $100 per barrel. Economic experts warned of the possibility that the Reserve Bank of Australia may raise interest rates for the fourth time at its upcoming meeting, due to the rise in oil prices which could persist for at least a year. This situation is expected to impact gasoline and diesel prices, which are anticipated to exceed two Australian dollars per liter in the coming weeks. Such increases will place a burden on households and add to inflationary pressures.
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