International crude oil prices surged to their highest in two months last week, fueled by escalating hostilities in the Middle East. This surge directly impacted Australia, where nationwide gasoline prices reached US$1.27 (AUS$1.82) per liter, the highest since March. Diesel prices also saw a significant jump across Australia, adding to inflationary pressures. Higher global crude oil prices could potentially increase Pakistan's import bill, putting upward pressure on local inflation and the USD/PKR exchange rate, which might indirectly support gold prices.
بحوالہ / Source: oilprice.com