Explore the latest developments concerning Sugar Prices Consolidate.
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Explore the latest developments concerning Soaring copper prices.
BHP will pay its biggest dividend in four years as booming copper prices give it confidence to simultaneously reward shareholders and invest in several new mines.
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The mining giant has delivered a record result thanks partly to its copper operations.
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Explore the latest developments concerning Sydney fuel prices.
Fuel prices have tipped over $2 a litre in NSW hours after the Albanese government’s fuel excise discount came to an end, triggering fresh warnings of more increases as the prolonged conflict in the Middle East threatens global oil supply.
The average price for regular unleaded passed the $2 mark on Monday morning after the fuel excise discount – delivering an approximate 17¢ saving – was withdrawn at midnight. The average national price for unleaded also rose above $2, the first time since May, according to Fuel Check.
Prices on Monday morning were 13¢ higher than what was recorded in Sydney last week. Sydney petrol prices rose by an average of 2.9¢ a litre overnight, according to the NRMA, less than the 3.2¢ recorded nationally.
The fuel excise cut is no more. The tax cut aimed at lowering petrol prices in the early stages of the US-Iran War has now been removed, adding 16 cents per litre to the price of fuel.
The excise cut started at 32 cents in March, and fell to 16 cents in July. Now that the excise cut is gone, retailers will increase prices by at least 16 cents per litre in the coming days.
Unleaded fuel prices could rise to around $2.20 per litre, and prices may rise even further if tensions between the United States and the Islamic Republic of Iran continue to mount.
It was a predicted shock – but a shock none the less for drivers this morning – with the Federal Government's temporary fuel excise tax break evaporating overnight.
So how long will it take for price rises to flow through to the bowser, and what supply headaches caused by the war in Iran still exist that will affect you next tank of fuel?
Dr Lurion De Mello, senior Lecturer, Department of Applied Finance at Macquarie University
With the fuel excise tax break gone, what next for fuel prices?(AAP: George Chan)
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Explore the latest developments concerning Prices to jump.
The excise cut was designed to "take some of the sting out of the cost-of-living pressures", the Treasurer said. (ABC News: Adam Griffiths)
Drivers can expect a price increase at the petrol pump following the end of the federal government's fuel excise cut from midnight tonight.
At the same time the rate will also undergo its twice yearly inflation indexation.
From April 1 the fuel excise was reduced from 52.6 cents a litre to 20.6 cents a litre, a 32 cents per litre discount to wholesale fuel prices which was due to end in July.
The support measure was then extended to August 2. However, the excise rate was lifted to 36.6 cents a litre, meaning the discount at the pump was reduced to 16 cents a litre.
Petrol now costs more than $1.90 a litre in every capital city, with diesel expected to exceed $2.40 a litre
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Petrol prices could surpass $2 a litre and diesel $2.40 in coming days, after the government’s 16-cent discount ends on Sunday.
The 32-cent per litre reduction in fuel excise, introduced in March at the peak of the fuel price spike, was halved to 16 cents in July.
The excise will return to its normal level on 3 August, adding 16 cents per litre to the wholesale prices paid by service stations.
Chris Bowen, the energy minister, told reporters on Saturday the government would not extend the temporary cost-of-living relief.
Petrol is nudging $2 across Sydney and motorists are bracing for a further hit with the last of the government's fuel excise cuts to go.
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Explore the latest developments concerning For decades Australian.
After decades of growth Australian house prices are slowing. Here's what a fall could look like.
Following a shake-up to negative gearing and the capital gains tax (CGT) discounts, the housing market has stalled and auction clearance rates are down.
There's some consternation among investors and home owners about a decrease in property values — and their concerns are backed by the big banks.
NAB has predicted a 2 per cent drop across major capital cities, while Commonwealth Bank has revised their growth estimate to 3 per cent, down from 5 per cent.
Prices are already sliding, with a reported 1.2 per cent decrease in Sydney last month alone.
I shouldn’t be celebrating the slowdown of the Australian property market. I just bought my first home six months ago and am mortgaged up with nearly half of my income going towards repayments. If you count the strata fees, my housing costs are closer to 60 per cent of my pay cheque after tax.
Is that fun? Well, not hugely. And I’d be lying if I said the habit I picked up during my house-hunting days of checking the going prices in my area, and my building, has disappeared. I still regularly scan real estate listing websites to see whether I snagged a bargain – hint: I didn’t – and to get an indication about whether the decades of mortgage repayments ahead of me will be made up for by growth in the value of my property when (hopefully one day) it comes time to upsize.
The dynamic landscape of current events often brings forth significant discussions. Monitoring these developments provides crucial insights.
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Explore the latest developments concerning For decades Australian.
After decades of growth Australian house prices are slowing. Here's what a fall could look like.
Following a shake-up to negative gearing and the capital gains tax (CGT) discounts, the housing market has stalled and auction clearance rates are down.
There's some consternation among investors and home owners about a decrease in property values — and their concerns are backed by the big banks.
NAB has predicted a 2 per cent drop across major capital cities, while Commonwealth Bank has revised their growth estimate to 3 per cent, down from 5 per cent.
Prices are already sliding, with a reported 1.2 per cent decrease in Sydney last month alone.
The Australian property market has entered its ninth downturn, but the history books offer hope for hard-pressed vendors.
New analysis released today by Domain forecasts the country’s two biggest property markets would be hit hardest, with Sydney house prices falling 7 per cent and Melbourne by 8 per cent in the new financial year.
Domain data says the housing market has officially entered its ninth downturn. Peter Rae SMH
While would-be buyers are exposed to borrowing constraints in these markets, prices in more affordable Brisbane, Perth and Adelaide are expected to keep growing.
House values have been taking a caning during past months due to three consecutive interest rates, changes to capital gains tax and negative gearing, as well as the impact to consumer confidence of the US-Iran war.
The dynamic landscape of current events often brings forth significant discussions. Monitoring these developments provides crucial insights.
For more detailed information, explore updates concerning For decades Australian.
Explore the latest developments concerning Petrol, diesel prices.
Qatar talks with Iran will be ‘perhaps important, perhaps not’: Trump
Liberal Senator Jonno Duniam says “you can bet your bottom dollar” that Labor will eventually go ahead with a proposal to expand super payments to under-18s working less than 30 hours per week.
Treasurer Jim Chalmers said on Tuesday that it wasn’t the government’s immediate priority but Labor would continue to engage with young people and the unions over the proposal.
Liberal senator Jonno Duniam says Labor has essentially admitted they will make the change. Dominic Lorrimer
“On whether the government, the people who control whether this happens or not, are going to do it – I think you can bet your bottom dollar they will,” Duniam told Sky news.
On 1 July, the governmentâs fuel excise discount was extended at a reduced rate of 16 cents per litre (cpl) â itâs been 32cpl since April â the move is part of a gradual return to full priced fuel.
So, how does the fuel excise work? Where does the funding go? How does global conflict impact fuel prices?Â
We put these questions to RACQ Principal Economic and Affordability Specialist Dr Ian Jeffreys.Â
How much will you save on a tank of fuel with the reduced excise discount?
With a reduced 16cpl excise discount, motorists will save around $9 per fill up, based on a 50-litre tank compared to the full excise rate. At the previous 32cpl excise discount, drivers were saving $18 per tank.
The dynamic landscape of current events often brings forth significant discussions. Monitoring these developments provides crucial insights.
For more detailed information, explore updates concerning Petrol, diesel prices.
Explore the latest developments concerning Oil prices are.
BP (LSE: BP.) shares have lost ground as oil prices slide following the Iran ceasefire agreement. That’s hardly surprising. With the immediate threat to Middle Eastern supply fading, investors have quickly removed much of the risk premium built into crude prices.
However, I think the market may be looking in the wrong place. The bigger story isn’t geopolitics — it’s whether global oil supplies are as comfortable as many currently believe.
The ceasefire agreement has undoubtedly reduced immediate concerns over Middle Eastern supply disruptions. But I think investors may be overlooking a more important issue.
Over the past few years, one of the world’s largest emergency oil buffers has been steadily depleted. The US Strategic Petroleum Reserve (SPR) remains near levels not seen since the early 1980s after hundreds of millions of barrels were released to help stabilise energy markets and keep fuel prices under control.
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Explore the latest developments concerning Debate over house.
One economist says house prices falling will ease inflation. (ABC News: Steve Keen)
Politicians have hesitated to weigh in on whether it would be good or bad if prices fell.
One economist says house prices falling will ease inflation but would upset many voters.
The government has passed its budget tax reforms through the House of Representatives, but will need the support of the Greens to pass them in the Senate.
Politicians do not want to say whether house prices should rise or fall as the market softens, despite agreement housing should be more affordable for younger people.
The government's proposed changes to negative gearing and capital gains tax have contributed to a slowdown at auctions as people wait to see how it will affect them.
Josephine Tovey speaks with Gabrielle Jackson, Patrick Keneally and Jonathan Barrett about why Labor is damned if they do and damned if they donât when it comes to the diabolical political conundrum of trying to solve the housing affordability crisis without bringing down house prices
Initial asking prices are falling, homes are being relisted at lower prices and buyers are winning bigger discounts on real estate as the housing market cools rapidly following the federal budget and higher interest rates.
Buyers have been paying up to 5 per cent less than the original sale price for private treaty purchases across the capital cities in the past three months, an increase on the decade average of 3.3 per cent, according to data provider Cotality.
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Explore the latest developments concerning ‘Slap in the.
Telstra has unveiled sweeping price rises for its mobile plans for the second time in 10 months, pushing the cost for some customers up by as much as 17 per cent over the past year.
Australia’s biggest telco revealed in a blog post on Tuesday morning that the price of its monthly postpaid basic plan, which comes with 50 gigabytes of data, would jump from $70 to $74. Its essential plan (with 180GB) would jump from $80 to $84, and its most-expensive premium plan (with 300GB) would stay the same at $99.
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Telstra customers will again be paying more for their mobile plan. Millions of customers around the country, particularly in regional areas, rely on the telco for mobile service – and it keeps getting more expensive.
For the second time in 10 months, the telco has announced it is raising prices across its mobile plans, increasing prices meaningfully above inflation. The hikes will come into effect from May 5 and in most cases will add an extra $4 a month on post-paid plans and $5 to pre-paid plans.
Similar price increases will also be rolled out for the telco's lower-cost subsidiaries Belong and Boost Mobile.
Calls for bank customers to claim refunds years after junk insurance scandal
The dynamic landscape of current events often brings forth significant discussions. Monitoring these developments provides crucial insights.
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