Petrol prices could rise to $2 a litre in Australia amid Middle East conflict, analysts warn

The prospect of higher energy prices may also delay the next Reserve Bank rate cut to until August instead of July, economists say

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Australian motorists could be paying $2 a litre for petrol in coming weeks, after US military strikes on Iranian nuclear facilities triggered a lift in oil prices on Monday.

As the IMF warned that turmoil in international energy markets posed a threat to global growth, analysts said higher fuel and power costs would be another blow to households still struggling with the high cost of living.

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