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Politics

Jacob Shteyman and Grace Crivellaro

THE TRUTH ABOUT: Oil could reach record highs despite global response | History Defined

Oil IG Vivek Dhar Australia Energy Tony Sycamore United States Middle East Petrol IEA

Australia's fuel quality standards will be temporarily lowered to increase new petrol stocks. (Jay Kogler/AAP PHOTOS)

Petrol prices could rise to unprecedented levels, an expert warns, as the government introduces measures to boost fuel supply.

As war in the Middle East threatens global oil supplies, Energy Minister Chris Bowen announced on Thursday he would temporarily lower Australia's fuel quality standards to increase new petrol stocks.

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