A petrol station sign advertises diesel for over three Australian dollars a litre, a new high due to the Middle East war, in the Melbourne suburb of Newport on March 23, 2026. Global oil prices have climbed dramatically since the war, prompting warnings that high fuel prices could drive inflation above 5 per cent in Australia. (Photo by William WEST / AFP via Getty Images)

A petrol station sign advertises diesel for over three Australian dollars a litre, a new high due to the Middle East war, in the Melbourne suburb of Newport on March 23, 2026. Global oil prices have climbed dramatically since the war, prompting warnings that high fuel prices could drive inflation above 5 per cent in Australia. (Photo by William WEST / AFP via Getty Images)

A man fills his car with fuel as a petrol station sign advertises diesel for over three Australian dollars a litre, a new high due to the Middle East war, in the Melbourne suburb of Newport on March 23, 2026. Global oil prices have climbed dramatically since the war, prompting warnings that high fuel prices could drive inflation above 5 per cent in Australia. (Photo by William WEST / AFP via Getty Images)

Rising gas prices are displayed at a gas station in Monterey Park, California on March 22, 2026. (Photo by Frederic J. BROWN / AFP via Getty Images)

Drivers fill their cars with gas at a gas station in Monterey Park, California on March 22, 2026. (Photo by Frederic J. BROWN / AFP via Getty Images)

A petrol station sign advertises diesel for over three Australian dollars a litre, a new high due to the Middle East war, in the Melbourne suburb of Newport on March 23, 2026. Global oil prices have climbed dramatically since the war, prompting warnings that high fuel prices could drive inflation above 5 per cent in Australia. (Photo by William WEST / AFP via Getty Images)

A driver fills her gas tank at a gas station in Monterey Park, California on March 22, 2026. (Photo by Frederic J. BROWN / AFP via Getty Images)

A man fills his car with fuel as a petrol station sign advertises diesel for over three Australian dollars a litre, a new high due to the Middle East war, in the Melbourne suburb of Newport on March 23, 2026. Global oil prices have climbed dramatically since the war, prompting warnings that high fuel prices could drive inflation above 5 per cent in Australia. (Photo by William WEST / AFP via Getty Images)