Petrol prices in Australia surged to record highs in the week ending March 20 as the ongoing Russia-Ukraine war kept global oil prices at high levels. According to the Australian Institute of Petroleum, the national weekly average for retail petrol prices rose sharply by 14.9 percent to $2.12 a litre (US$5.94 a gallon) during the period. Among Australian states and territories, Tasmania had the highest weekly average petrol prices at $2.21 a litre (US$1.63), while Western Australia’s prices were the lowest at $2.05 (US$1.05) a litre. Worse economists anticipate that petrol prices could go up even further as crude oil prices keep increasing and staying above the $US100 a barrel level. Global oil prices (U.S. light crude) rose back to US$112 per barrel on March 21 after plunging to $US95 a barrel a few days earlier. Analysis by Western Australia based motoring insurer Royal Automobile Club showed that Australian households …