Bowen

Petrol prices are set to exceed $2 a litre as the government's 16-cent discount ends, with diesel expected to surpass $2.40 a litre. The fuel excise reduction, initially 32 cents per litre in March, was halved to 16 cents in July before its scheduled expiration.

The US and Iran's ongoing pressure on each other is jeopardizing the fragile Gulf ceasefire, raising concerns of a potential all-out war. The Strait of Hormuz standoff is a key factor in the escalating tensions. The situation remains volatile, with both sides determined to maintain their stance.