Petrol prices

Aussies are being urged to shop around for cheap fuel, with no end to the volatility in sight.

They have fired up the meme machine to take aim at the president after stunning revelations about his “bait-and-switch” on Air Force One.

Metro Petroleum said it will cooperate fully with investigations and that it takes a “zero-tolerance approach”.

The full fuel excise has now returned after the temporary cuts expired, adding significantly to household costs.

The gap between the most expensive and cheapest fuel types has risen to a record high as the excise is restored.

Servos may not necessarily immediately pump up prices, one observer said - but there’s reason to worry.

The warning comes after the government ruled out extending a fuel discount into August.

Fuel could become 16 cents per litre more expensive on Sunday.

With a perfect storm of a potential rate hike, hotter inflation and surging petrol prices brewing.

Oil prices surged but never reached the heights many feared thanks to one big factor. The IMF warns it’s almost gone.