Perth / Western Australia

Its not really a sudden increase. Its an increased cost over the medium term now.

The increases began in September 2020, and while they have plateaued at the higher level. ( https://www.abs.gov.au/statistics/economy/price-indexes-and-inflation/consumer-price-index-australia/latest-release ). Theres no reason prices/market behaviour would revert to, or near , the pre-pandemic state of affairs, which is what would usually be expected in an industry. (Ignoring other world events)

I think you'll find fuel prices have climbed faster than inflation, i can't see why that would be different in the future. If we remain in a high inflation environment theres every chance fuel will be a contributor to that.

The only way inflation eats the increased fuel prices in the consumers favour, is if wages cost climb faster than fuel cost climbs. While there is wage cost movement, i don't think it's surpassed the rate of broader inflation, let alone fuel cost inflation. But, i haven't looked at the charts to compare them in a bit.

We could legislate end dates. But it is still a relatively unpopular political decision, and we seem to be pretty scared of those in this country. But its a live option.