Petrol prices across Australia have surged dramatically within 24-48 hours of the Ukraine war starting, with increases of 30-50 cents per litre reported in major cities. A former ACCC boss criticises service stations for premature price hikes, stating that global oil price increases typically take one to two weeks to flow through to petrol bowsers. Treasurer Jim Chalmers has directed the ACCC consumer watchdog to monitor retailers for potential war profiteering, though concerns remain about the regulator's enforcement powers.

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