If the rise in petrol prices in the producer-price data is reflected in the CPI data, there is a risk the inflation rate could be 2.2 percent.

The catalyst for this was the sharp rise in the U.S. Producer Price Index, with the 1.9 percent jump in September coming in at more than analysts were expecting, and fueling fears of increased inflation creeping back into the U.S. economy.

The catalyst for this was the sharp rise in the U.S. Producer Price Index, with the 1.9 percent jump in September coming in at more than analysts were expecting, and fueling fears of increased inflation creeping back into the U.S. economy,

As petrol prices increase, the global demand for more sustainable energy sources will also rise. Malaysia is the world's largest palm oil producers and palm oil is the world's most traded vegetable oil.

The soaring price of petrol is now starting to pose a major threat to the Australian economy.

All of a sudden it is a big problem and now petrol prices are going up it's a bigger problem,