Petrol prices have recently jumped, and thisappears to be directly linked to what's happening in Ukraine (Hutchens, 2022). Explainwhat has occurred, and evaluate the likely effect on (i) consumer expenditure, (ii) revenuefor petrol retailers, (iii) government revenue. Who, if anyone, stands to benefit from thisprice shock? Some argue that petrol is too expensive, and that the government should cutpetroltaxes(Worthington, 2022).Isthisjustifiable,based oneconomicreasoning?