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AAP
AAP
Business
Colin Brinsden, AAP Economics and Business Correspondent

HISTORICAL FACTS: Rba stays focused on lower jobless rate | History Defined

Australia Australian Bureau of Statistics Josh Frydenberg

Motorists face pain at the bowser for some time yet as petrol prices top $2 a litre in some parts of the country.

Treasurer Josh Frydenberg has warned fuel prices will remain elevated as a result of Russia's invasion of Ukraine, but has declined to say whether he is prepared to cut fuel excise to help households.

Petrol prices are destined to set further new records following a spike in world oil prices to about $US130 a barrel this week.

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