What will happen with petrol prices when the fuel excise ends?

Petrol prices are expected to jump after a 16-cent cut in the fuel excise expires as of Monday. And, of course, this is amid the ongoing conflict in the Middle East where a fresh wave of attacks from the United States and Iran this week has made shipping even more treacherous across the Strait of Hormuz. It's seen the price of oil also rise steadily the past few weeks. So, what can we expect to see at the bowser?