Fuel Prices

Annual March rate adds to pressure on household finances and follows warnings of slowdown to UK economyUK inflation rose by 3.3% in March amid the surge in fuel prices for motorists triggered by the Iran war.Figures from the Office for National Statistics (ONS) show the consumer prices index increased last month from 3% in February, adding to pressure on household finances already battered by a cost of living crisis. The rise matched City economists’s forecast of an increase to 3.3%. Continue reading...

Norway leads the way in terms of switching as data shows 224,000 new EVs were registered in MarchBusiness live – latest updatesSales of electric cars soared 51% in continental Europe last month, amid a rise in petrol and diesel costs driven by the Iran war.Data shows that 224,000 new electric vehicles (EVs) were registered in March, and 500,000 across the first three months of the year – a 33.5% increase on a year earlier, according to analysis of national sales data in 15 countries by New Automotive and E-Mobility Europe, a trade body. Continue reading...

Budget airline says passengers are leaving it later to book flights owing to economic uncertaintyBusiness live – latest updatesThe budget airline easyJet has warned the impact of the Iran war on bookings and oil prices will hit its profits, having driven up fuel costs by £25m in the last month alone.It said it expected to report an increased pre-tax loss of £540-£560m for the six months to March, up from £394m in the first half of 2024-25. The carrier typically makes its money in the second half of the year which includes the peak summer period. Continue reading...

Some petrol stations may see short-term fuel outages as refinery output slows, but national supplies should not be affectedFull report: Geelong oil refinery fireGeelong oil refinery fire: what we know so farFollow our Australia news live blog for latest updatesGet our breaking news email, free app or daily news podcastVictorian motorists are being warned to brace for a spike in petrol prices of up to 20c a litre due to a huge blaze at Viva Energy’s oil refinery in Geelong, but oil and supply chain experts say the effects should be short-lived.Viva’s Corio facility is one of two domestic refineries that reduce Australia’s heavy reliance on direct imports of ready-to-use oil products from Asia. 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...

Demand at online marketplaces could settle at a new, higher normal, with the crisis leaving consumers ‘scarred’Car buyers’ interest in electric cars has surged across Europe since the start of the war in Iran, as the rising cost of petrol highlights the cheaper power available from a plug.Online marketplaces in the UK, Germany, France and Spain reported huge increases in inquiries about electric vehicles since the start of the conflict in February. Continue reading...

Iran war drives demand for solar panels, heat pumps and EVs, with energy bills expected to rise 18% from JulyBritish households are turning to green home energy upgrades in record numbers to try to keep bills down as the Iran crisis sends global oil and gas prices soaring, data from leading energy suppliers suggests.Figures show demand for solar panels, electric vehicles and heat pumps in Great Britain has leapt since the war began on 28 February, as households brace for a sharp increase in monthly payments when the next energy price cap takes effect in the summer. 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...

Shipments of fuel into Australia secure until at least the middle of May, energy minister saysFollow our Australia news live blog for latest updatesGet our breaking news email, free app or daily news podcastAustralia could get more fuel from the US, Mexico or its Asian neighbours, with a new government policy helping refineries bid for oil shipments as diesel prices spike to new record highs.Anthony Albanese is flying to Singapore on Thursday to lock in ongoing petrol supplies from our biggest source of refined fuels. On his way out of Australia, the prime minister confirmed that the government had used new powers to extend assistance to Ampol and Viva refineries, with Canberra to underwrite their efforts to buy new shipments of oil on the open market. 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...

Energy minister Chris Bowen says 3.4% of Australia’s service stations had no diesel, as of Monday, after wholesale prices surgedTrack Australia’s fuel prices, service station outages and shipments in chartsGet our breaking news email, free app or daily news podcastDiesel users in Australia are not enjoying the same relief as unleaded customers, with one in 30 service stations still entirely out of diesel and prices rising again after an initial slump last week.But while the energy minister, Chris Bowen, urged Australians not to participate in a social media trend where people claim to be filling up their fuel tanks with cooking oil, he said the government was keen to support the development of biofuels like biodiesel from fats and vegetable oils. 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...

Petrol has risen 19% and diesel 35%, and in England the north has had the sharpest increasesFuel prices have risen faster in Northern Ireland than in any other UK region since the beginning of the Iran war.Analysis of official data shows that petrol has jumped by 19% in Northern Ireland since the end of February, and diesel is now 35% more expensive. The rises are among the largest in Europe. Continue reading...

Australian prime minister Anthony Albanese announces GST revenue on fuel sales to be used to reduce fuel costs by a combined 32 cents a litreFollow our Australia news live blog for latest updatesGet our breaking news email, free app or daily news podcastTrack Australia’s fuel prices, service station outages and shipments in chartsA deal with the states to return GST revenue on fuel sales will knock another 5.7 cents off the price of petrol for three months, bringing the total reduction to 32 cents a litre after this week’s halving of the fuel excise.The government said the 26.3 cent reduction in the fuel tax and the GST deal would cut the cost of filling a 65-litre vehicle by nearly $23. Continue reading...

The argument for transitioning to renewables seems stronger than ever – and yet, attacks mount on the carbon price scheme that underpins the EU’s success at cutting pollution• Don’t get This Is Europe delivered to your inbox? Sign up hereOn the one hand, experts say, Europe is better prepared for this energy crisis than the last. On the other, it is still waging a culture war against the most obvious path out.Fuel prices have soared to ruinous levels since the Iran war left ships of oil and liquefied natural gas (LNG) stranded in the Gulf. The pain is most acute in Asia, but high energy prices are already causing panic in Europe. Shortages could hit the continent this month, oil company Shell warned last week. Donald Trump’s “go get your own oil” comments on Tuesday sent prices to their highest level since the start of the US-Israel attack on Iran. They briefly dipped below $100-a-barrel on Wednesday amid hopes that the war may soon end. Continue reading...

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...

National average hit $4.02, according to AAA data, capping an extraordinary rise from $2.98 just a month agoAverage US fuel prices have crossed $4 per gallon for the first time in four years, piling pressure on drivers as Donald Trump’s war on Iran continues to boost oil markets.The nationwide average climbed to almost $4.02 on Tuesday, according to AAA data, capping an extraordinary rise from $2.98 just a month ago. It has not been this high since August 2022. Continue reading...

Higher blend has been prohibited in warm weather because of concerns it could worsen smogThe US Environmental Protection Agency said Wednesday that it would temporarily allow widespread sales of a higher ethanol gas blend in a move that they hope will tamp down consumer prices that have soared since the Iran war began.The higher blend has been prohibited in warm weather because of concerns it could worsen smog. Continue reading...

Samoa and Tonga raise supply concerns with foreign partners as businesses and residents in Papua New Guinea grapple with higher fuel prices amid the Iran warThe leaders of some Pacific countries have appealed for help with oil supplies while others urge against “panic buying” as the import-reliant nations grapple with fears over possible fuel shortages and escalating costs caused by war in the Middle East.Oil prices have surged to nearly $110 a barrel after strikes against energy infrastructure in Iran and the Gulf states. Continue reading...