As the US-Israel war in Iran continues, and with it, the effective closure of the Strait of Hormuz, Australia’s petrol prices have now reached a record high average of $2.38 a litre. The report adds that the country’s fuel supplies are “heading for a cliff” at the end of next month, “when the Asian refineries that deliver 80% of Australia’s supply exhaust their inventories due to the Iran war oil crisis”.
In the latest Paint by Numbers, Crikey looks at the staggering cost of the war being waged against Iran by the US and Israel, in terms of lives, money and opportunities.