Petrol stations in Sydney and Melbourne increase prices before war costs impact

Half of Sydney and Melbourne petrol stations have increased prices by up to 10¢ per litre, despite government warnings against opportunistic hikes. This occurs before the impact of rising crude oil costs from the Iran conflict, which typically takes a week to affect retail prices. The NRMA calls these increases "price gouging." The Treasurer has instructed the ACCC to monitor for fuel price gouging, while the Energy Minister urged motorists not to panic buy.