Report Topic: Petrol Prices in Australia

Petrol prices in Australia have been rising steadily through all of 2021 and have reached new highs in March 2022. With fuel cost being one of the key components of the household budget, the rising price of petrol has received a lot of attention in the popular press as well as among the policymakers at the various levels of government. In this report you will look into the factors that drive these changes in the petrol market as well as evaluate some of the policy proposals aimed at addressing the rising cost of petrol.

Question 1. [3 Marks]

Find a few articles in the popular press discussing the current state of the petrol market. Based on your readings, provide at least one examples of a positive analysis and one example of a normative analysis related to the issue of petrol prices. Quote and show references for each of the examples.