Fuel Crisis

As treasurer Jim Chalmers weighs ‘extreme uncertainty’, one economic scenario sees global growth plunging to just 2% in 2026Get our breaking news email, free app or daily news podcastThe International Monetary Fund has warned the US-Israel war on Iran risks creating an “energy crisis of an unprecedented scale” that could tip the global economy towards recession.The grim warning contained in the IMF’s latest World Economic Outlook comes as Jim Chalmers prepares to attend the organisation’s spring meetings in Washington DC this week, where he said he would be “joining with other countries continuing to call for an enduring end to the war”. Continue reading...

Follow the day’s news liveAlbanese didn’t return with shiploads of diesel. That doesn’t mean his Singapore visit wasn’t a successGet our breaking news email, free app or daily news podcastThe Australian government is launching a new advertising campaign to encourage the public to minimise their use of fuel amid the global crisis caused by the US-Israel war on Iran.The TV, digital and billboard campaign, which will begin rolling out on Monday, is called “Every little bit helps” and is part of the second level of the government’s four-tier fuel security plan.…lays the groundwork for Australians to understand what to do now as fuel supplies hold up. It also signals that instructions will be communicated if and when we move to future levels.This campaign will help communicate the Government’s plan to the public and outline what actions they can take to help.The global fuel shortage is affecting us all and every little bit helps. From running errands in fewer trips to only filling up with the fuel you need, this will help us keep essential services moving. Continue reading...

Exclusive: Trips on Sydney’s key thoroughfares have fallen by thousands per day, according to government dataGet our breaking news email, free app or daily news podcastRoad traffic is falling on Australia’s east coast as fuel prices bite, with most key Sydney highways recording 20% fewer weekend trips.The number of trips recorded on Sydney’s key thoroughfares has fallen by thousands of trips a day, according to New South Wales government data shared exclusively with Guardian Australia. 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...

More than 33GW of battery capacity approved for Turkish grid since 2022 compared with 12-13GW in GermanyTurkey has given the green light to more batteries to buffer its electricity grid than any EU member state, a report has found, in a further sign of rich countries losing steam in the race to a clean economy.More than 33GW of battery capacity have been approved in Turkey since 2022, according to the climate thinktank Ember, while the total planned and operational capacity in European frontrunners that started deploying them earlier, such as Germany and Italy, is 12-13GW. 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...

Prime minister brings forward trip to Singapore in scramble for petrol supplies; former soldier charged with five war crime murders. Follow updates liveGet our breaking news email, free app or daily news podcastThe prime minister has spoken to Chinese premier, Li Qiang, over the phone to discuss energy security, as the government moves to secure fuel supplies with nations across Asia.Anthony Albanese confirmed on Tuesday he would be flying to Singapore this week to lock in fuel imports. Continue reading...