Australians need to “get used” to petrol prices being over $2 per litre, economists have warned.

The Russian invasion of Ukraine has already been felt at the petrol pump, with the stock market also taking a huge hit.

Shane Oliver, chief economist at AMP, told Neil Mitchell there was no sign of petrol prices coming down any time soon.

“I think we do have to get used to higher prices for a while yet, unfortunately,” he said.

Press PLAY below to hear him explain why

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