Tag: fuel

  • Russian fuel shortages bite – but will Putin change tack in Ukraine war? | Ukraine war is not g…

    Russian fuel shortages bite – but will Putin change tack in Ukraine war? | Ukraine war is not g…

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    Russian fuel shortages bite – but will Putin change tack in Ukraine war?

    If you want to get a sense of the fuel crisis gripping Russia, all you need to do is spend a day driving around Moscow. At almost every petrol station we passed there was a queue of cars and lorries. Some lines were long, some short; some static, others moving steadily.

    If there was no queue, that meant the garage had run out of fuel entirely and was closed.

    Remember: this is Moscow, the wealthy, populated capital that draws in so much of Russia's vast resources. Even here the authorities cannot ensure there is enough petrol and diesel to keep Muscovites on the road.

    Ukraine war is not going well for Russia – how dangerous is this for Vladimir Putin?

    The mood regarding the war in Ukraine has changed in recent months. Ukrainian drones have struck Russian oil infrastructure, causing fuel shortages across Russia. And the Ukrainian president, Volodymyr Zelensky, is exuberant about finishing the war from a “position of strength”.

    The hope is that an economic crisis in Russia leads to social unrest and political instability, possibly resulting in the collapse of the ruling regime. This would not be an unprecedented event in Russian history. The Soviet Union rapidly unravelled amid economic and political crisis in 1991. But how likely is this scenario for Russia today?

    I have travelled to Russia yearly since 2022 and there has been a clear change in the mood. In 2022, it was all about survival and adapting to the new reality of sanctions and war. Over the next couple of years, there was stabilisation and growing optimism about the economy’s ability to adapt. However, by 2026 there was talk of an economic recession, even before the current fuel shortages hit.

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    Tensions rise as motorists get angry about Russia’s fuel shortage

    Frustrations over Russia’s petrol shortages have run so deep that fistfights have broken out among exasperated motorists waiting for hours in line.

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  • Fuel price cuts extended through July, but discount drops by half | Federal fuel tax discount ext…

    Fuel price cuts extended through July, but discount drops by half | Federal fuel tax discount ext…

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    Fuel price cuts extended through July, but discount drops by half

    The fuel excise rebate was originally set to expire on June 30. (ABC News)

    The federal government is winding back its discount to the fuel excise over the next month.

    The 32 cents per litre fuel discount will drop to 16 cents per litre, and the Heavy Vehicle Road User Charge will increase from free to 16 cents per litre.

    Prime Minister Anthony Albanese has not ruled out extending the discount again. 

    The federal government is winding back its discount to the fuel excise, after three months of relief for motorists.

    The 50 per cent discount, which has knocked 32 cents off each litre of petrol, will drop back to 16 cents between July 1 and August 2, before tapering off altogether.

    Federal fuel tax discount extended, but not in full

    SBS acknowledges the Traditional Custodians of Country and their connections and continuous care for the skies, lands and waterways throughout Australia.

    Cost relief at the bowser has been extended for another month, although the savings won't be as substantial.

    Prime Minister Anthony Albanese has announced a limited extension of the fuel excise, making petrol and diesel 16 cents per litre cheaper than the full price in July.

    The current saving is 32 cents a litre after it was cut three months ago, following the outbreak of war in the Middle East and ensuing strangulation of global oil supplies.

    That discount is scheduled to expire on 30 June, by which time it will have cost the federal budget an estimated $2.9 billion in foregone revenue.

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    Petrol prices in Australia are now lower than before the Iran war began. Is the oil crisis over and what happens next?

    Fuel suppliers outside the Middle East have proved to be much more flexible than analysts expected – and China surprised everyone

    Australians were warned soon after the Middle East conflict started that the country could run short on fuel, with prices rising to record levels owing to disrupted oil supplies.

    Now, amid an uneasy peace deal and continued supply disruptions, petrol prices are lower than they were before the conflict began and official warnings over fuel usage have largely disappeared.

    Why haven’t we run out of fuel? Why were we told to cut back? And what will happen now?

    The US-Israel war on Iran closed the strait of Hormuz, through which about a third of the world’s crude oil travelled in 2025. Oil is refined into petrol, diesel and other fuel products.

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  • The fuel nobody wanted just became essential again | Earnings call transcript: Yancoal Australia …

    The fuel nobody wanted just became essential again | Earnings call transcript: Yancoal Australia …

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    ASX 200 coal stock slips on soft quarterly update

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  • Euro jet fuel crisis: What it means for Aussie travellers | Aussies warned of costly travel mista…

    Euro jet fuel crisis: What it means for Aussie travellers | Aussies warned of costly travel mista…

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    Aussies warned of costly travel mistake with cheap flights: 'They need to understand'

    Australians are being warned that air travel could remain volatile for some time, as rising fuel costs and geopolitical tensions continue to disrupt routes and reshape demand.

    Despite the pressure on operating costs, major airlines are also releasing millions of discounted fares in a bid to stimulate bookings, adding fresh uncertainty for travellers.

    In Australia, that mix of higher prices, fare sales and shifting flight paths has left some passengers weighing up whether to chase savings, even if it means transiting through or near conflict-affected regions.

    Middle Eastern airlines, in particular, have reported steep drops in passenger numbers amid ongoing tensions involving Iran.

    Are booked flights safe? Warning issued

    Aussies could soon expect to see more flight cancellations and price increases for air travel as war in the Middle East sparks logistical chaos and aviation fuel shortage fears grow.

    As fuel prices remain volatile, on Tuesday, Environment Minister Murray Watt told Sky News that he “can’t predict what the future is going to hold”, however, he suggested there would be consequences of the disruption of global fuel networks.

    “We’ve already seen our domestic airlines make some changes around their flight routes,” he said.“That’s obviously, at least in part, a response to the global fuel shortage that we’re seeing, and I don’t think that we can rule out future events occurring. 

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  • EV sales surge as fuel anxiety clears auctions and showrooms in Australia | BYD the winner as EV …

    EV sales surge as fuel anxiety clears auctions and showrooms in Australia | BYD the winner as EV …

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    EV sales surge as fuel anxiety clears auctions and showrooms in Australia

    After crunching the numbers for years, Ann Hewitt has finally switched to an EV. (ABC News: Nathan Morris)

    Electric vehicle uptake in Australia is accelerating as anxiety about fuel shortages and rising petrol prices grows.

    A month into the ongoing war with Iran, new car sales data released today show the share of EVs has doubled compared to March last year.

    The sales spike is just one signal that the country's car market is shifting, with online searches and showroom visitors surging. But as the world clamps down on fuel supplies and households look to lower their costs, experts are warning that now is the time to iron out existing roadblocks to that transition.

    BYD the winner as EV sales hit new monthly record

    Electric vehicle sales hit a new monthly record in March as the conflict in the Middle East sent fuel prices soaring, even as Australians purchased fewer new cars compared to the same time last year.

    Car makers offloaded 15,839 EVs last month, accounting for 14.6 per cent of total sales, data from the Federal Chamber of Automotive Industries and Electric Vehicle Council showed. That was a 42 per cent rise on February’s record 11.8 per cent market share and came despite overall new vehicle sales falling by 2.6 per cent year-on-year.

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    ‘Doesn’t make sense to hold on to a combustion engine’: used EV prices rise as Australia’s fuel crisis hits

    Stock runs low as oil crunch increases enthusiasm for electric vehicles

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    When a used vehicle rolls into a car yard, the usual trajectory for its price tag is down if it lingers too long.

    That is the (almost) iron law of the secondhand market – until the oil crisis hit and dealers started raising asking prices for used electric vehicles.

    Jake Sale, founder of Perth-based MotorMetrics, says lowered prices are not unusual but “up is very unique”.

    MotorMetrics’ live analysis of vehicle inventory shows that secondhand dealers have repriced a variety of used EVs, with Tesla’s Model Y up more than 6% in the last two weeks of March.

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  • Economists warn fuel price cut likely to come with ‘sting in the tail’ | Fuel tax cuts could mean…

    Economists warn fuel price cut likely to come with ‘sting in the tail’ | Fuel tax cuts could mean…

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    Economists warn fuel price cut likely to come with 'sting in the tail'

    The war in the Middle East has triggered sky-high fuel prices and shortages around Australia.  (ABC News: Timothy Ailwood)

    Economists have warned the government's move to halve the fuel excise to provide some relief from sky-high petrol prices could adversely impact demand for petrol and keep inflation higher. 

    The tax on every litre of petrol and diesel will be slashed for three months from tomorrow, with Treasurer Jim Chalmers estimating it will save Australians about $19 on a 65-litre tank of gas.

    Some economists say the move could mean the Reserve Bank is more likely to increase interest rates again when it next meets in May. 

    Fuel tax cuts could mean interest rate pain

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    Australians could face worse cost-of-living pressures over the coming months despite temporary relief through a cut to the fuel excise.

    From Wednesday, petrol and diesel costs around the nation will be slashed by 26.3 cents a litre as the federal government moves to head off the worst effects of the war in the Middle East.

    That equates to $10.50 on a small 40-litre tank or $21 for Australia's best-selling new car – the Ford Ranger – which has an 80-litre tank.

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    Did Anthony Albanese just cement a third interest rate hike in May by cutting the fuel excise?

    Injecting $1.5bn via petrol subsidies into an inflated economy may change things for the Reserve Bank board at its next meeting

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    Economists 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.

    Jim Chalmers says halving the 52.6c a litre fuel tax for three months will save a motorist $19 at the bowser on a 65-litre tank – and much more for those driving the ubiquitous gas-guzzling utes.

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  • Government halves fuel excise to cut price on petrol and diesel | Did Anthony Albanese just cemen…

    Government halves fuel excise to cut price on petrol and diesel | Did Anthony Albanese just cemen…

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    Government halves fuel excise to cut price on petrol and diesel

    Anthony Albanese has announced a four-point fuel action plan as well as a halving of the fuel excise.  (ABC News: Callum Flinn)

    The government has halved the fuel excise, reducing the cost of petrol and diesel by 26.3 cents a litre for three months.

    The heavy road user charge will also be reduced to zero for the same period, taking pressure off truck drivers and transport costs.

    State and territory leaders agreed in a national cabinet meeting on a four-point fuel supply action plan.

    The government has halved the fuel excise on petrol and diesel for three months, reducing the cost of fuel by 26.3 cents a litre.

    Did Anthony Albanese just cement a third interest rate hike in May by cutting the fuel excise?

    Injecting $1.5bn via petrol subsidies into an inflated economy may change things for the Reserve Bank board at its next meeting

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    Economists 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.

    Jim Chalmers says halving the 52.6c a litre fuel tax for three months will save a motorist $19 at the bowser on a 65-litre tank – and much more for those driving the ubiquitous gas-guzzling utes.

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    The dynamic landscape of current events often brings forth significant discussions. Monitoring these developments provides crucial insights.

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  • The PM is on the nose. The fuel crisis offers a chance for redemption | New polling shows who Aus…

    The PM is on the nose. The fuel crisis offers a chance for redemption | New polling shows who Aus…

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    The PM is on the nose. The fuel crisis offers a chance for redemption

    Both major parties have problems, but you’d still rather be Anthony Albanese than Angus Taylor.

    When it comes to who is responsible for escalating petrol prices, Australian voters are pretty smart.

    The latest The Australian Financial Review/Redbridge Group/Accent Research poll shows 61 per cent lay the blame for the crisis solely at the feet of Donald Trump. Just 14 per cent blame the government.

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    New polling shows who Australians blame for fuel crisis

    The vast majority of respondents blame Donald Trump for the fuel crisis sparked by the war in the Middle East.

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  • World energy watchdog warns the fuel crisis is ‘very severe’ | Iran war energy crisis equal to 70…

    World energy watchdog warns the fuel crisis is ‘very severe’ | Iran war energy crisis equal to 70…

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    World energy watchdog warns the fuel crisis is 'very severe'

    Fatih Birol will recommend releasing further stockpiled fuel if the crisis continues and conditions call for it. (ABC News: Matt Roberts)

    International Energy Agency chief Fatih Birol says major damage to energy assets in the Middle East will create supply problems in the future, even after the Iran war ends.

    Prime Minister Anthony Albanese and his Singaporean counterpart have issued a joint statement committing to strengthening the energy supply chain in the region.

    More emergency reserves of oil could be released if the war continues to impact the supply and price of fuel.

    World leaders have failed to grasp the depth of the energy crisis created by the Iran war, the head of the International Energy Agency has warned.

    Iran war energy crisis equal to 70s twin oil shocks and fallout from Ukraine war, says IEA chief

    Fatih Birol says effect on energy markets of Iran bombings and closure of Hormuz strait not initially understood by world leaders

    The global energy crisis caused by the war in Iran is equivalent to the combined force of the twin oil shocks of the 1970s and the fallout of Russia’s invasion of Ukraine, the head of the International Energy Agency has warned.

    Fatih Birol, the IEA’s executive director, said the growing fallout could be seriously compounded through interuptions to the “vital arteries of the global economy”, including petrochemicals, fertilisers, sulfur and helium.

    Speaking at the National Press Club of Australia in Canberra on Monday, Birol said the depth of the problems in energy markets caused by American and Israeli bombings in Iran, and the closure of the stragetic strait of Hormuz, had not initally been properly understood by world leaders.

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    Iran war LIVE updates:Oil crisis already ‘double the 70s’: IEA director; explosions heard in Tehran

    Oil supply crisis already double the scale of 1970s oil shocks: IEA director

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    Welcome to our live coverage of the war in the Middle East. Here are the top stories we’re following:

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  • Government doesn’t rule out fuel rationing possibility, but says supplies still arriving as norma…

    Government doesn’t rule out fuel rationing possibility, but says supplies still arriving as norma…

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    Government doesn't rule out fuel rationing possibility, but says supplies still arriving as normal

    Property News: Suburbs where house values rose most in the past 12 months.

    Chris Bowen declares rush on jerry cans ‘un-Australian’ as he urges end to panic buying of petrol

    Energy minister says country’s fuel supply has yet to be affected by war after meeting with suppliers and retailers

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    Chris 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.

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    Is it time to ration petrol and diesel?

    As the Iran war enters its third week, the ripple effect is growing around the world as the global oil supply through the Strait of Hormuz is disrupted. 

    In Australia, petrol and diesel prices are soaring and in some regional areas the bowsers have run dry.

    Today, David Leaney, an international supply chain expert from the ANU on how panic buying is driving prices higher and why the government should start restricting sales.

    David Leaney, international supply chain management consultant and Lecturer at Australian National University

    Sam Hawley: With the Iran war entering its third week, the ripple effect is growing around the world as the global oil supply is crippled. Here, petrol and diesel prices are soaring. In some regional areas, supply has run out. Today, David Leaney, an international supply chain expert from the ANU, on how panic buying is driving prices higher and why the government should start restricting sales. I'm Sam Hawley on Gadigal land in Sydney. This is ABC News Daily.

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