Given the following three list, how would you create a new list that matches the desired output printed below?
fruits = ['Apples', 'Oranges', 'Bananas']
quantities = [5, 3, 4]
prices = [1.50, 2.25, 0.89]
#Desired output
[('Apples', 5, 1.50),
('Oranges', 3, 2.25),
('Bananas', 4, 0.89)]