Albanese

Injecting $1.5bn via petrol subsidies into an inflated economy may change things for the Reserve Bank board at its next meetingFollow our Australia news live blog for latest updatesGet our breaking news email, free app or daily news podcastEconomists will say that what millions of motorists gain in cheaper fuel through the prime minister’s three-month fuel excise cut, they will lose in more expensive mortgages.It may be good politics, but injecting $1.5bn via petrol subsidies into an economy that is already struggling with a resurgent inflationary problem is not going to make the Reserve Bank of Australia’s job any easier. Continue reading...

More assistance to businesses amid ballooning petrol prices expected to be discussed as prime minister and premiers meet. Follow updates liveGet our breaking news email, free app or daily news podcastGood morning, Krishani Dhanji with you here for the final sitting week of the month, and the final sitting week before the budget.The prime minister will convene the national cabinet again today, the second since the US and Israeli strikes on Iran. And this morning the government will introduce legislation to underwrite fuel supplies into Australia. Continue reading...

Latest figures from ACCC show diesel and unleaded petrol prices across the five largest cities up 10% and 8% respectivelyFollow our Australia news live blog for latest updatesGet our breaking news email, free app or daily news podcastThe prime minister and energy minister moved to reassure the public about normal or even higher levels of fuel supply in the coming weeks, as the Coalition escalated calls for a cut to the fuel excise and the government downplayed the prospect of any major restrictions on petrol sales.It comes as the latest figures from the consumer watchdog showed diesel prices across Australia’s five largest cities have risen by an average of 10% over the last week, while unleaded petrol was up 8%. 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...

David Pocock says a flat 25% export levy on gas producers could redirect ‘wartime profits’ to struggling AustraliansGet our breaking news email, free app or daily news podcastPressure is mounting on the Albanese government to help households struggling with fuel prices, with working from home and free public transport posited as possible solutions.Nearly 150,000 New Zealand families will soon receive a weekly cash payment to help them afford petrol, believed to be the world’s first fuel relief package that directly pays citizens since the Israel-US war on Iran began. 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...

Prime minister makes hasty exit after people heard yelling phrases including ‘disgrace’, ‘shame’ and ‘genocide supporters’ Follow our Australia news live blog for latest updatesGet our breaking news email, free app or daily news podcastAnthony Albanese has claimed he was heckled by people at one of Australia’s largest mosques because they were unhappy his government has outlawed “extremist organisations” like Hizb ut-Tahrir, although he failed to provide any evidence for his claim.The prime minister and the home affairs minister, Tony Burke, were at Lakemba mosque in Sydney’s west on Friday morning before celebrations for the end of Ramadan, one of the most sacred dates in the Islamic faith. Continue reading...