One of Australia’s top insurance companies has warned petrol prices may remain at unprecedented levels throughout the duration of Russia’s invasion of Ukraine. NRMA spokesman Peter Khoury said many Australians could expect to pay staggeringly high prices of more than $2 per litre (US$5.51 per gallon) when at the pump. “In Australia, most capital cities by the end of this week or early next week will see two dollars a litre on average,” Khoury told AAP. “That’s the first time it has ever happened. There’s really no end in sight … We’re struggling to be able to point to any factors globally that will provide any sort of short-term relief.” It comes as governments and oil companies alike have begun to declare they will no longer be accepting oil from the world’s biggest exporter—including U.S. President Joe Biden and oil and gas giant Shell. “The latest Russian invasion of Ukraine …
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