Middle East conflict drives fuel above $2 a litre across Australia
Middle East conflict has effectively closed the Strait of Hormuz, pushing fuel above $2 a litre in all Australian capital cities.
Renewed fighting in the Middle East has sent fuel prices soaring across Australia. The US-Iran conflict has effectively closed the Strait of Hormuz, a key shipping route for oil tankers.
Iranian-backed Houthi rebels have seized strategic islands in the Red Sea. Petrol now costs more than $2 a litre in all Australian capital cities, and diesel is around $2.50.
The Labor government faces renewed pressure to cut the 54-cent-a-litre fuel excise tax again. The government previously cut the excise by 32 cents per litre for three months starting in April, when petrol cost $2.32 and diesel $2.75 on average.
Energy Minister Chris Bowen told ABC TV on Monday that the government will not respond to 'every daily movement on the world oil price'. The government has other cost-of-living measures, including tax cuts, cheaper medicines, and free TAFE.
- above $2 a litre
- Current petrol price
- about $2.50 a litre
- Current diesel price
- $2.32 a litre
- April petrol price
- 54 cents a litre
- Fuel excise tax rate
Why it mattersFuel prices directly hit household budgets and business costs; geopolitical conflict thousands of kilometres away now costs Australian drivers and transport operators real money.
AustraliaEvery Australian household and business paying for fuel is affected; rising prices squeeze already stretched household budgets across the country.
✓ Claims checked against the source and corrected before publish. checked 10 d ago
