Australia Fuel

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Exclusive: Government should back projects that prioritise renewables to protect consumers from ongoing price shocks, they sayGet our breaking news email, free app or daily news podcastFormer oil and gas industry leaders, including senior executives from BP and Shell, are warning the Albanese government that Australians risk ongoing price shocks and higher costs if it prioritises fossil fuel development in response to the global energy crisis.Sixteen ex-executives and professionals – who had worked for companies including Woodside, Inpex, Exxon Mobil and Esso – have urged the government to reject calls for fast-tracked gas and coal extraction, arguing it would do nothing to improve the nation’s liquid fuel security. Continue reading...

Foreign affairs minister says China has agreed to facilitate exports of jet fuel to ease supply disruptions. Follow today’s news liveGet our breaking news email, free app or daily news podcastGood morning and welcome to our live news blog. I’m Martin Farrer with the top overnight stories and then it will be Nick Visser with the main action.Penny Wong has been busy on her latest overseas trip, saying China has agreed to negotiate on jet fuel sales to help ease the global oil crisis. Continue reading...

Financial markets are betting the Reserve Bank will hike interest rates for a third straight meeting next Tuesday•Get our breaking news email, free app or daily news podcastInflation jumped to 4.6% in the year to March, from 3.7% the month before, in what experts say is the start of an Iran war-linked fuel shock that will ripple through the economy over coming months.Financial markets are betting the Reserve Bank will hike interest rates for a third straight meeting next Tuesday, as officials struggle to manage the “nightmare scenario” of containing inflation even as growth is expected to slow sharply. Continue reading...

Club chief says ‘anodyne acknowledgements’ can be ‘overworked’. Follow today’s news liveGet our breaking news email, free app or daily news podcastGood morning and welcome to our live news blog. I’m Martin Farrer with the top overnight stories and then it will be Nick Visser with the main action.The RSL has announced it will review its guidance on welcome to country addresses at Anzac Day services after Indigenous leaders were booed at three dawn services on Saturday. Continue reading...

Foreign affairs minister begins another diplomatic tour to secure Australia’s fuel and energy supply chains. Follow today’s news liveGet our breaking news email, free app or daily news podcastGood morning, Nick Visser here to guide you through the day’s news. Here’s what’s on deck:The foreign minister, Penny Wong, will travel to Japan today, part of a diplomatic trip to secure fuel supplies that will also include visits to China and South Korea. She said the effort will help “ensure Australia is prioritised as a reliable energy partner”. Continue reading...

The trend has been accelerated by the US-Israel war on Iran, leaving households – and cafe owners – glum, surveys suggestFollow our Australia news live blog for latest updatesGet our breaking news email, free app or daily news podcastFor many coffee drinkers, takeaway orders are changing from a habitual purchase to an occasional treat, as elevated petrol prices and other living costs leave households feeling glum.This rapid shift in behaviour has disappointed cafe owners and surprised economists, raising an uneasy question: if takeaway coffee sales are falling, is the economy next? Continue reading...

PM to update state and territory leaders and is weighing options to increase oil refining in Australia. Follow today’s news liveGet our breaking news email, free app or daily news podcastGood morning and welcome to our live news blog. I’m Martin Farrer with the top overnight stories. Nick Visser will take the reins shortly.Anthony Albanese will convene the national cabinet again in coming days to discuss the fuel crisis, he told the ABC’s 7.30 program last night, as the government considers options to boost domestic fuel refining capacity. 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...

After Singapore last week, the PM visits supplier of 9% of Australia’s diesel as treasurer travels to Washington for G20 finance ministers’ meetingGet our breaking news email, free app or daily news podcastAnthony Albanese has arrived in Brunei Darussalam, the first Australian prime minister to fly to the oil-rich country for a meeting with the sultan, where he’ll discuss fuel supplies with the world’s longest serving monarch, Andrew Greene has reported from the travelling media pool.Arriving in Bandar Seri Begawan yesterday for his second trip to Asia in a week, Albanese was officially welcomed on the tarmac before making his way to the Brunei Darussalam-Australia memorial to lay a wreath. Continue reading...