Australian households face prospect of interest rate hike and petrol prices rising above $2 a litre

Crude oil prices are likely to stay elevated for ‘at least a year’ as the US-Iran war enters a new and more dangerous phase, an expert warns. Photograph: Joel Carrett/AAP View image in fullscreen Crude oil prices are likely to stay elevated for ‘at least a year’ as the US-Iran war enters a new and m…