Petrol

Autotrader says average EV cost is £785 cheaper, in an important milestone in the move away from fossil fuelsBusiness live – latest updatesThe price of new battery electric cars has fallen below petrol cars in the UK for the first time ever, according to the car sales website Autotrader, in a significant milestone in Britain’s transition away from fossil fuels.The average price of a new electric car listed on the website was £42,620, compared with £43,405 for a new petrol model – making the former £785 cheaper based on advertised prices after discounts. Continue reading...

How much fuel does Australia have left today, and when could we run out? Track how much petrol and diesel prices have risen near you in Sydney, Melbourne and across the country.Get our breaking news email, free app or daily news podcastThe federal government has released fuel reserves, cut fuel excise taxes and rolled out a national fuel security plan as Australia battles a fuel crisis.While we know there have been outages and price increases, it can be difficult to get a full picture of what is happening – this is partly due to the thousands of independent businesses and different governments involved. We have brought together the latest data on prices, outages and oil tanker deliveries. Continue reading...

Trips in electric vehicles will be exempt from the temporary fee of 5 cents per kilometre, rideshare firm says Uber customers in Australia will be charged a fuel surcharge for almost two months from Wednesday unless they ride in an electric vehicle.Trips in petrol, diesel, and hybrid vehicles will attract an extra fee of 5 cents per kilometre from 15 April to 8 June, Uber announced on Monday. Continue reading...

Australia and Singapore will ‘make maximum efforts to meet each other’s energy security needs’ in refined fuels and LNG, according to new agreementGet our breaking news email, free app or daily news podcastAustralia’s largest petrol source has pledged not to cut supplies, with Singapore’s prime minister telling Anthony Albanese that fuel will keep flowing despite the international crisis.Albanese’s whistle-stop visit with his Singaporean counterpart, Lawrence Wong, culminated in a new agreement that the two countries would keep sending one another fuel and liquefied natural gas, amid the “acute energy crisis” caused by the war in the Middle East. Australia and Singapore will also add a legally binding addendum to their free trade agreement on essential supplies like energy. Continue reading...

How much fuel does Australia have left today, and when could we run out? Track how much petrol and diesel prices have risen near you in Sydney, Melbourne and across the country.Get our breaking news email, free app or daily news podcastHundreds of service stations across Australia have run empty, fuel prices are elevated and oil shipments have been cancelled.Australia is battling a fuel crisis as Iran’s closure of the strait of Hormuz continues to bite. The federal government has released fuel reserves, cut fuel excise taxes and rolled out a national fuel security plan. Continue reading...

How much fuel does Australia have left today, and when could we run out? Check how much petrol and diesel prices have risen near you in Sydney, Melbourne and across the country since the US and Israel’s war on Iran began in late FebruaryGet our breaking news email, free app or daily news podcastHundreds of service stations across Australia have run empty, fuel prices are elevated and oil shipments have been cancelled.Australia is battling a fuel crisis as Iran’s closure of the strait of Hormuz continues to bite. The federal government has released fuel reserves, cut fuel excise taxes and rolled out a national fuel security plan. Continue reading...

Chris Bowen says Australians should ‘not get ahead of ourselves’ by expecting prices to fallFollow our Australia news live blog for latest updatesGet our breaking news email, free app or daily news podcastTrack current petrol and diesel prices across AustraliaPetrol prices are rising again and diesel wholesale prices have hit new record highs as the government warns the US ceasefire with Iran will not make fuel cheaper.The average unleaded prices at service stations rose in some cities on Wednesday for the first time since late March, as fuel tankers hiked their charges. Continue reading...

How much fuel does Australia have left today, and when could we run out? Check how much petrol and diesel prices have risen near you in Sydney, Melbourne and across the country since the US and Israel’s war on Iran began in late FebruaryGet our breaking news email, free app or daily news podcastHundreds of service stations across Australia have run empty, fuel prices are elevated and oil shipments have been cancelled.Australia is battling a fuel crisis as Iran’s closure of the strait of Hormuz continues to bite. The federal government has released fuel reserves, cut fuel excise taxes and rolled out a national fuel security plan. Continue reading...

Petrol prices have stopped falling, despite the federal government’s cut to the fuel excise last weekTrack Australia’s fuel prices, service station outages and shipments in chartsFollow our Australia news live blog for latest updatesGet our breaking news email, free app or daily news podcastAnthony Albanese will fly to Singapore this week – Australia’s biggest source of petrol – as the government mounts an international bid to keep fuel prices from rising.Diesel is getting more expensive again and petrol prices have stopped falling, despite the federal government’s cut to fuel excise last week. Continue reading...

How much fuel does Australia have left today, and when could we run out? Check how much petrol and diesel prices have risen near you in Sydney, Melbourne and across the country since the US and Israel’s war on Iran began in late FebruaryGet our breaking news email, free app or daily news podcastHundreds of service stations across Australia have run empty, fuel prices are elevated and oil shipments have been cancelled.Australia is battling a fuel crisis as Iran’s closure of the strait of Hormuz continues to bite. The federal government has released fuel reserves, cut fuel excise taxes and rolled out a national fuel security plan. Continue reading...

Most of the stations hit with penalty infringement notices were in regional NSW, while 23 were in Sydney Ninety-three service stations in New South Wales are facing fines for misrepresenting their prices amid Australia’s fuel crisis – although none are facing penalties for price gouging.A two-week compliance blitz has seen inspectors visit about 75% – or just under 1,800 – of stations registered with fuel price app FuelCheck in NSW, issuing 93 penalty infringement notices, the state government said on Sunday. Continue reading...

• The U.S. Energy Department announced plans Wednesday to loan an additional 10 million barrels of crude from the Strategic Petroleum Reserve as part of a 172 million-barrel drawdown. • West Texas Intermediate crude prices exceeded $112 per barrel due to ongoing Iran conflict disruptions, prompting the reserve release to curb domestic fuel costs. • Critics warn the extensive SPR drawdown heightens U.S. energy vulnerabilities during prolonged geopolitical tensions and supply chain risks through key chokepoints.

Track the latest data on fuel prices, outages and oil tanker deliveriesFollow our Australia news live blog for latest updatesGet our breaking news email, free app or daily news podcastHundreds of service stations across Australia have run empty, fuel prices are elevated and oil shipments have been cancelled.Australia is battling a fuel crises as Iran’s closure of the strait of Hormuz continues to bite. The federal government has released fuel reserves, cut fuel excise taxes and rolled out a national fuel security plan. Continue reading...

Adelaide has the biggest price decline, with unleaded down 24.9 cents and diesel down 21.3 centsFollow our Australia news live blog for latest updatesGet our breaking news email, free app or daily news podcastFuel prices have started falling immediately across Australia in the wake of the government’s fuel excise cut, unexpectedly accelerating the delivery of the Albanese government’s cost-of-living relief.Prices in capital cities paused then plummeted on Wednesday, after the prime minister announced the tax on petrol and diesel would be halved to 26.3 cents a litre. Continue reading...

Move comes five days after Jim Chalmers said Labor was not considering cutting the fuel exciseAnthony Albanese has slashed the fuel excise in half in a move which will save motorists 26 cents a litre, and is encouraging people to take public transport where they can, as the national cabinet announces a plan to manage the petrol crisis.Following a meeting of state and federal leaders on Monday, leaders also agreed to reduce the heavy vehicle road user charge to zero for three months, in a bid to support truck drivers. Continue reading...

Rationing is not under consideration yet as hundreds of retailers report being without one or more types of fuelGet our breaking news email, free app or daily news podcastPetrol stations are reporting a surge in demand of up to 25% in the last fortnight alone on top of already major spikes earlier in the Iran war as Anthony Albanese comes under pressure to devise a national plan to cushion Australia against the “biggest energy crisis in history”.The Australasian Convenience and Petroleum Marketers Association has revealed the scale of the demand on retailers, which has left hundreds of stations across the country without one or more types of fuel. Continue reading...

Businesses ranging from vegetable growers to miners warn of disruption from rising petrol prices and lack of supplyGet our breaking news email, free app or daily news podcastIndependent petrol station operators and miners are urging the federal government to crack down harder on major fuel wholesalers hoarding supply and withholding deliveries from smaller operators.Amid growing disruption from the Iran war, smaller operators are running out of fuel, including in rural and regional areas. Outlets that buy petrol on the spot market, and do not operate with longstanding contracts for fuel supply, have asked for extra help, including from the government’s new fuel supply tsar. Continue reading...

Fuel tax cuts also risk adding to inflation by enabling some households with enough income to spend moreFollow our Australia news live blog for latest updatesGet our breaking news email, free app or daily news podcastFuel excise cuts would be a “political band-aid” that could worsen petrol shortages and add to inflation, economists have warned.The mining billionaire Gina Rinehart, Tasmania’s state premier and Liberal opposition leaders in New South Wales and Victoria have called for the Albanese government to cut the excise on petrol and diesel. Continue reading...

Vehicle numbers on key Sydney and Melbourne roads have held steady, as calls grow for free or cheaper public transport to encourage people to drive lessFollow our Australia news live blog for latest updatesGet our breaking news email, free app or daily news podcastAustralians appear to have kept driving despite soaring petrol prices, as calls grow for free or discounted public transport to help people save fuel and get off the road.Traffic and public transport usage are holding steady, with experts warning the country needs to change travel methods or start working from home if fuel costs keep rising.Do you know more? Email [email protected] Continue reading...

Energy minister Chris Bowen says ‘we’re a long way’ from further action like fuel rationing despite shortagesHundreds of service stations across Australia have run out of fuel, with the federal government inking a deal with Singapore, one of our biggest sources of refined petroleum, to keep supplies of diesel and gas flowing.Concerns are now broadening to supplies of fertiliser and other chemicals, heaping more pressure on the Albanese government’s leveraging of overseas exports of coal and gas in a bid to handle of the crisis. Continue reading...

PM’s ‘cost of living champion’ calls for consideration of temporary measure to prevent profiteering from Iran warThe government’s top cost of living adviser has called on ministers to explore a temporary cap on the profits of energy and petrol companies to prevent them from cashing in excessively on the war in the Middle East.Richard Walker – a Labour peer, the chair of Iceland supermarkets and the prime minister’s “cost of living champion” – said he had asked the government to examine limiting how much businesses were able to benefit from higher energy prices after Iran’s blockade of the strait of Hormuz, a crucial shipping route for Europe’s oil and gas, and the wider conflict in the region. Continue reading...

Amid a surge in fuel prices and fear of shortages, SA police chief signals officers might stop investigating ‘drive-offs’ unless service stations install prepaid pumpsGet our breaking news email, free app or daily news podcastThe rusty green fuel trailer hardly looks like it is worth stealing. But some time before 1 March it was hooked up to the back of a vehicle and taken from a property at Huntley, south of Orange, in the New South Wales central tablelands.It was just another in a series of thefts that police across Australia are keeping a watchful eye on. Continue reading...

Fuel retailers put on notice as watchdog promises to come down hard on those doing the wrong thingFollow our Australia news live blog for latest updatesGet our breaking news email, free app or daily news podcastThe competition watchdog has received more than 500 reports of possible price-gouging at petrol stations since the breakout of war in Iran, with retailers on notice over cost increases for motorists within hours of the first US and Israeli-led strikes.Gina Cass-Gottlieb, the chair of the Australian Competition and Consumer Commission (ACCC), told Guardian Australia she was receiving further information about fuel price increases moving faster than petrol price cycles in the first days of the war, promising to come down hard against retailers found to be doing the wrong thing. Continue reading...

Have you cancelled a holiday? Are you working from home more or taking fewer journeys? Tell us your experienceGlobal oil market prices have surged, with the US-Israel war on Iran disrupting key shipping routes. The strait of Hormuz, where as much as a fifth of global fuel supply travels through, has been closed due to the conflict.Asia is deeply affected by the crisis, relying heavily on imported energy that passes through the strait. Continue reading...

Other delivery and transport companies such as Uber, DoorDash and Australia Post are weighing whether to charge moreFollow our Australia news live blog for latest updatesGet our breaking news email, free app or daily news podcastRideshare giant DiDi has raised its prices to cover soaring petrol costs, becoming one of the first major companies after the airlines to charge Australian consumers more as a result of the conflict in the Middle East.Uber, DoorDash and Australia Post were among the delivery and transport companies weighing whether to add charges, as small businesses hike fees. Continue reading...

Borrowers face losing hundreds of dollars a month in higher repayments and rising pump rices will add to the pain, economists warnFollow our Australia news live blog for latest updatesGet our breaking news email, free app or daily news podcastSurging interest rates and petrol prices have stripped more than $1bn a month from Australian household budgets as economists warn of recession risks.Consumers are preparing for rates to surpass their recent highs after the Reserve Bank delivered back-to-back hikes ahead of an inflation spike driven by the US war on Iran. Continue reading...

Energy minister says country’s fuel supply has yet to be affected by war, following meeting with suppliers and retailersFollow our Australia news live blog for latest updatesGet our breaking news email, free app or daily news podcastChris Bowen has insisted the country’s fuel supply is yet to be affected by the war in the Middle East while criticising a rush to buy jerry cans to fill up with petrol as “un-Australian”.The energy minister made the comments after an emergency meeting with major fuel suppliers and retailers, that was convened by the Australian Competition and Consumer Commission (ACCC) to demand explanations for the recent surge in petrol prices. Continue reading...

Energy minister says it will take ‘some time’ for extra supply to reach regional areas. Follow today’s news liveGet our breaking news email, free app or daily news podcastThe energy minister, Chris Bowen, says it will take “some time” for the petrol and disesel released from Australia’s domestic stockpile to reach areas hit by shortages.On Friday, the Albanese government directed fuel companies to release nearly a fifth of reserve petrol and diesel supplies. Dozens of service stations across the country have run out of petrol as retailers struggle with customers panic-buying in response to skyrocketing prices from the Middle East conflict.There will be some time for it to flow through. There’s a very complicated supply chain.But it is going to have an impact. Some companies have said it will start to have an impact in coming days, to some degree. But there will be some time before it’s all released. Continue reading...

Electric vehicles reduce exposure to global oil price shocks and shift energy consumption to electricity largely produced domestically, expert saysGet our breaking news email, free app or daily news podcastAustralia could reduce its reliance on foreign fuel by more than 1bn litres a year if we replaced 1m petrol-fuelled cars with electric vehicles, as experts say boosting EV adoption is part of securing the nation’s long-term economic security.Hussein Dia, a professor of transport technology and sustainability at the Swinburne University of Technology, said electric vehicles can play a meaningful role in improving Australia’s energy sovereignty, as well as contributing to the national net zero emissions goal. Continue reading...