An economist says it won't be long until 91 petrol is consistently back down at $2.80.

The US and Iran peace agreement to cease hostilities and reopen the Strait of Hormuz is sending positive signals for the global oil industry. 

Westpac chief economist Kelly Eckhold says prices will stay low, once ships are moving normally. 

"We know that there's pretty low inventories out there around the world at the moment, so we need that supply chain to be working at full tilt for a while so that all of those things can get replenished."

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An economist says it won't be long until 91 petrol is consistently back down at $2.80.
The US and Iran peace agreement to cease hostilities and reopen the Strait of Hormuz is sending positive signals for the global oil industry.&nbsp;
Westpac chief economist Kelly Eckhold says prices will stay low, once ships are moving normally.&nbsp;
"We know that there's pretty low inventories out there around the world at the moment, so we need that supply chain to be working at full tilt for a while so that all of those things can get replenished."
LISTEN ABOVE

Best of Business is the home of all things business at Newstalk ZB, from morning market updates right through to incisive interviews with New Zealand’s top business leaders and decision makers. 

Whether you’re a small business owner or interested in what’s going on in the Big End of Town, this podcast encompasses the sharpest voices and minds in the world of business.

Best of Business is the home of all things business at Newstalk ZB, from morning market updates right through to incisive interviews with New Zealand’s top business leaders and decision makers. Whether you’re a small business owner or interested in what’s going on in the Big End of Town, this podcast encompasses the sharpest voices and minds in the world of business.

Best of Business is the home of all things business at Newstalk ZB, from morning market updates right through to incisive interviews with New Zealand’s top business leaders and decision makers.

Best of Business

Kelly Eckhold: Westpac chief economist on what the US-Iran peace agreement could mean for fuel prices

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/7d1b1625-5878-48f9-81ab-b46a00644555/transcript