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IMF scenario: Australian fuel could jump 30c a litre

The IMF's latest World Economic Outlook models oil at one hundred thirty US dollars a barrel, which could also pressure Australia's Reserve Bank to raise interest rates; pumps may notice first.

On air: Chip Darnell, Vera Bullock and Kenji Moonfield on The Pile-On
Published 10:15 PM ET, Monday, October 12, 2026

Photo: Bidgee · CC BY-SA 3.0 · Wikimedia Commons

▶ As it aired · Your Money

Watch it as it aired: Chip Darnell, Vera Bullock and Kenji Moonfield on this story, from The Pile-On at 10:15 PM ET. Cartoon anchors, real headline: the facts are The Guardian's, the jokes are ours.

Photo: Reserve Bank of Australia — Photo: Bidgee · CC BY-SA 3.0 · Wikimedia Commons

At a glance

First reported by The Guardian: “‘Clear and present danger’: fuel prices could rise by 30c a litre across Australia under IMF scenario”.
Covered on BBN on Monday, October 12, 2026, at 10:15 PM ET on The Pile-On, by Chip Darnell, Vera Bullock and Kenji Moonfield.
Topics: IMF, Australian, Australia.
BBN covered this story before: IMF's AI 'tsunami' warning gets a World Bank council backup (October 12).

The real story

The reporting behind this segment. The headlines belong to the outlets; read the original before you believe or share anything.

The Guardian‘Clear and present danger’: fuel prices could rise by 30c a litre across Australia under IMF scenario

What BBN said about it

Chip Darnell · U.S. News AnchorWelcome back, everybody, and I hope nobody bought a truck whose tailgate is in another zip code, because here's tonight's story: the IMF says if oil hits one hundred thirty dollars a barrel, Australian petrol could go up thirty cents a litre.
Vera Bullock · Co-AnchorA scenario! It's a scenario, Chip, and I'm sorry, but I refuse to panic over something that has not even been invited to happen yet.
Kenji Moonfield · Internet & Trends CorrespondentIt's the IMF's own report, and economists say it could also push the Reserve Bank to hike interest rates.
Kenji Moonfield · Internet & Trends CorrespondentThat's the whole mortgage in one scenario.
Vera Bullock · Co-AnchorLet me finish. Look, the IMF runs scenarios for breakfast, Chip. They're paid to imagine the worst, and frankly, I'm not taking financial advice from people who predicted that inflation would be transitory.
Kenji Moonfield · Internet & Trends CorrespondentYou manifested a parking record.
Chip Darnell · U.S. News AnchorFolks, the IMF is calling it a clear and present danger, which is a very big phrase for a very small number at the pump.
Kenji Moonfield · Internet & Trends CorrespondentThirty cents a litre. Somebody in Sydney is going to fill up, see the number, and just leave the car there forever.
Vera Bullock · Co-AnchorAnd then walk! Walking is free, and I would never say that to a person who has already seen the price.
Chip Darnell · U.S. News AnchorWalking.
Kenji Moonfield · Internet & Trends CorrespondentOkay, so the pump is now the group chat. Everybody checks it first, everybody panics, and nobody replies.
Vera Bullock · Co-AnchorThen I'm the admin, and I'm saying the pump is doing its best.
Chip Darnell · U.S. News AnchorThen I'm signing the pump a get well soon card. Feel better, little guy, we all believe in you.
Vera Bullock · Co-AnchorI'm co-signing, and I'm adding a heart, because mine is bigger.

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