Airlines are among the companies being hit hard by the energy crisis as fuel prices soar. Photo: Joel Carrett/AAP PHOTOS
Multiple Australian companies are warning about the impact of high energy costs driven by the Middle East conflict on their operations.
Here are some of the notable ones and the kind of impact occurring:
* Qantas – higher jet fuel bills raising costs
* Virgin Australia – higher jet fuel bills raising costs
* Westpac – market volatility impacting trading profits, customers facing a weaker economy
* Cleanaway – higher diesel bills raising costs, impacting annual earnings
* A2 Milk – supply chain issues, freight costs
* Orora – glass bottle unit annual earnings cut, production halted at UAE glass plant
Here’s how fuel prices have been buffeted since the crisis began on February 28:
* Oil – Oil prices have surged as much as 77 per cent since US-led attacks on Iran at the end of February sparked a broader regional conflict
* Jet fuel – refining costs have soared from around $US20 a barrel to a peak of around $US120
* Australian road user fuel – diesel and petrol prices have jumped since February, with the former soaring to more than $3 a litre and the latter rising to well over $2
Australian Associated Press