Michael West Media · AAP · Wednesday 29 April 2026
CPI surged to a three-year high on the back of Middle East-driven fuel prices, dragging the ASX lower and confirming what every motorist worked out at the bowser weeks ago.
Inflation jumps, the bourse dips, and the financial press acts like the petrol bowser is a weather event nobody saw coming. The RBA's been watching this one approach since the first tanker rerouted around the Strait, and the only people surprised are the ones paid to not be. Howard had two refineries. Rudd had two refineries. We've still got two refineries. The price of a tank of unleaded is the bill for thirty years of pretending geography was a suggestion.