There goes your tax cut! Unless your're rich of course. You'll still come out ahead then. The peasants can pay. Go feudal system!
Westpac says a spike in oil prices to $US65 a barrel would lead to a bowser petrol price of $1.30 a litre PETROL prices could reach $1.30 a litre by the end of the year with Australian households set to feel the squeeze regardless of oil prices, a leading bank has forecast.
Westpac economist Jonathan Cavenagh said rising oil prices "Would be equivalent to an extra $14 per week in household spending."
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