WEBVTT - Bonus: An Important Update On Fuel Prices

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<v Speaker 1>You're on the air with Jason Lauren clint here too.

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<v Speaker 2>I feel prices and economic uncertain his braced for another

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<v Speaker 2>spike in petrol prices.

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<v Speaker 1>If you will give me bargum that was at fuel

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<v Speaker 1>prices are going up? Yes they are.

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<v Speaker 2>Yeah, there's signs of panic buying already. Fuel prices are

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<v Speaker 2>on the rise. Bunnings, for instance, has reported a spike

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<v Speaker 2>in jerry can sales as.

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<v Speaker 3>People are stocking.

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<v Speaker 2>Yeah, people are stockpiling. We know the crude oil price

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<v Speaker 2>globally is through the roof at the moment.

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<v Speaker 3>Are we talking like how much has it already gone on?

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<v Speaker 2>Well, it's about one hundred and sixteen dollars a barrel

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<v Speaker 2>at the moment, I'm told, And that's gonna sort of

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<v Speaker 2>slowly but surely make its way through to the bowser.

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<v Speaker 1>Let's talk to a finance expert. Tim Lester from Channel

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<v Speaker 1>seven joined this so on the air.

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<v Speaker 4>Good morning, Hei, gosh, how are you have you stop? You?

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<v Speaker 1>Should we be? I was going to say, you stockpiled?

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<v Speaker 1>Should we be stockpiling?

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<v Speaker 3>Well?

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<v Speaker 4>The government says no. The government says applies have not

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<v Speaker 4>yet been effected. Calm down, and I think they're right.

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<v Speaker 4>Provided the middle East conflict doesn't go on for too long. Now.

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<v Speaker 4>The US president today, Donald Trump, is saying it'll wrap

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<v Speaker 4>up quickly. We're nearing achieving the emission the missions we

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<v Speaker 4>need to achieve over there. It'll be fine. The market

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<v Speaker 4>started to think yesterday that it wasn't far and it

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<v Speaker 4>was going to be a drawn out conflict, and so

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<v Speaker 4>the sheer market the floor fell out of it and

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<v Speaker 4>it basically trimmed tens of billions of dollars. But that

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<v Speaker 4>confidence appears to have come back a bit with some

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<v Speaker 4>of those comments and the president overnight. So provided the

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<v Speaker 4>war in the Middle East is reasonably short, we may

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<v Speaker 4>not notice it long term in terms of fuel. If

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<v Speaker 4>it hangs on, then it's a problem.

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<v Speaker 3>So people don't need to panic now. Because we're in Melbourne.

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<v Speaker 3>I know that there's been scenes of people lining up

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<v Speaker 3>to try and get their fuel tanks filled this week.

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<v Speaker 4>Yeah, and that's understandable. And if you go to some

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<v Speaker 4>particularly some regional fuel stations, you'll find they actually are

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<v Speaker 4>having troubles because they're not being supplied under major contracts

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<v Speaker 4>like the bigger networks of fuel stations but to get

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<v Speaker 4>in the cities. But for now, the cities are in

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<v Speaker 4>pretty good shape. And that's and it's likely to stay

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<v Speaker 4>that way for at least in the shorter terms, So

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<v Speaker 4>you need to absolutely fill up to day No no.

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<v Speaker 2>Albo's just front of a media conference in Canberra where

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<v Speaker 2>he tells the strains we've got thirty five days of

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<v Speaker 2>fuel reserves as well. The issue with this tim is

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<v Speaker 2>that am I right in saying that it's all a

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<v Speaker 2>vicious cycle, because you know inflation would then start to

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<v Speaker 2>climb and that'll not only make people's petrol more expensive,

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<v Speaker 2>but people's groceries and the like.

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<v Speaker 4>Absolutely, the problem is farmers put diesel in their tractors

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<v Speaker 4>to get the crops in transport companies put diesel in

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<v Speaker 4>their trucks to take all the groceries to coals and

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<v Speaker 4>woollies and aldi. The fuel is right through our economy,

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<v Speaker 4>so it doesn't just affect what we do when we

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<v Speaker 4>go to the petrol station. It's going to turn up

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<v Speaker 4>in the price of bananas. Yeah, and there's certainly a

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<v Speaker 4>one forecast this morning saying inflation could go to five percent. Well,

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<v Speaker 4>if that's right, then interest rates will go up on

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<v Speaker 4>our mortgage and and we'll be paying for it in

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<v Speaker 4>all kinds of ways.

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<v Speaker 2>Thanks the good news. Appreciate security editor, really appreciate Tim.

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<v Speaker 4>Cheery, Yeah, very cheery.

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<v Speaker 2>Love you work.

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<v Speaker 1>Got to tell you what we do have Free fuel

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<v Speaker 1>to go this morning. Thirteen twenty four ten is our number.

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<v Speaker 1>Thanks you our mates at Shell shell Ready Express, you

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<v Speaker 1>scan pump save to save money and time when you

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<v Speaker 1>fill up.

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<v Speaker 3>How good. Let's give some people some fuel, shall we.

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<v Speaker 3>Let's go Lauren and danding on Good morning, Good morning.

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<v Speaker 3>Petrol's on us this week.

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<v Speaker 4>Thank you guys, the best.

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<v Speaker 2>Worry You're the best, so are you. Leanne in Dingley, Hello,

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<v Speaker 2>thank you.

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<v Speaker 1>My husband has a land cruise and we towed the

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<v Speaker 1>caravan on the weekend. So expensive that caravan ate.

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<v Speaker 3>Maybe there you go, Petrols on.

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<v Speaker 2>Us free fuel, free fuel Tuesdays. It was we used

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<v Speaker 2>to do on the Today Show, Free fuel Friday. It

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<v Speaker 2>was always hard to say free once.

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<v Speaker 3>I did that on the Stat Show. And then maybe

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<v Speaker 3>get in the car with people lined up, I'm playing

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<v Speaker 3>for you fuel. It was the weirdest thing. You just

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<v Speaker 3>I don't want to get in your cart and you

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<v Speaker 3>don't want me in your car.

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<v Speaker 1>Also, they say use your phone new the bowser and

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<v Speaker 1>there you are your microphone and TV. Hello, here's your

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<v Speaker 1>free football.

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<v Speaker 3>See from Mars bar. Can you leave me alone? Mike

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<v Speaker 3>can't buy that, you know what.

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<v Speaker 1>That's the only downside, you know how, saying there's a

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<v Speaker 1>Petro station down the rod from us where they fill

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<v Speaker 1>it up for you. It's one of those little independent.

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<v Speaker 2>Ones, no snacks, so you can't ask for it.

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<v Speaker 1>There's nothing else.

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<v Speaker 3>I'm sure you'll detour and finds another one. You find

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<v Speaker 3>already express somewhere. It is travel upon your Mars bar.

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<v Speaker 1>Four to nine. This is Nova and we've got free

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<v Speaker 1>field to go all this week.

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<v Speaker 3>Lauren Lauren wake out feeling good following them on the

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<v Speaker 3>socials