Articles about Petrol

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...

NRMA says record-high fuel may be here to stay in Sydney, Melbourne and Brisbane after prices soared early in the Middle East conflictFollow our Australia news live blog for latest updatesGet our breaking news email, free app or daily news podcastDozens of service stations across Australia have run out of petrol as distributors struggle to keep up with customers panic-buying as the conflict in the Middle East continues to disrupt prices.The NRMA has warned regulators “missed” the chance to stop price hikes, as booming wholesale demand pushes fuel prices to a “permanent high” on the east coast. Continue reading...

New AAA data shows petrol vehicles fell to a record quarterly low of 66.3% of sales. Follow today’s news liveGet our breaking news email, free app or daily news podcastNew data from the Australian Automobile Association (AAA) shows petrol-electric hybrid vehicles have reached record sales, while traditional fuel cars lose ground.In the fourth quarter of 2025, 55,458 new hybrids were sold, accounting for 19.13% of all new light vehicle sales. This comfortably eclipsed the previous record of 16.7% set in the September quarter of 2024. In addition, 15,411 plug-in hybrid electric vehicles were sold – 5.32% of light vehicle sales, up from its previous record of 4.82% in the January quarter of 2025. Continue reading...

Trade body attends meeting with Rachel Reeves, hours after saying it was pulling out over suggestions of price gouging• Watchdog puts UK fuel retailers ‘on notice’ over profiteering from Iran warThe trade body for the UK’s petrol station industry has got into a row with the government after claiming the “inflammatory language” used by ministers to describe rising pump prices may have incited abuse against forecourt staff.The Petrol Retailers Association (PRA) said ministers had for several days suggested that forecourts might be “price gouging” and “ripping off” motorists as global oil markets have surged in response to the war in Iran. Continue reading...