Australian dollar oil gusher

Monday, 8 July 2013

The weak Australian dollar and charging WTI continued to poor into the local oil price on Friday hitting a new post GFC high of $114. 60:

Thankfully the lag between the oil price and petrol price continued last week but you can expect the next few weeks to be less kind:

About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.