Drivers warned of record petrol prices as vital shipping lane is effectively shut

Summary: Australian drivers may soon face increased fuel prices due to the ongoing conflict in the Middle East, as the Strait of Hormuz, a key oil shipping route, has been effectively closed. With Brent crude prices rising over 10%, local petrol prices have already surged in major cities. Analysts warn that prices could potentially reach $100 per barrel, impacting household budgets as the cost of petrol escalates across the nation.

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