Diesel could breach $3 a litre if Trump halts US fuel exports
Diesel prices near 298.7c per litre in Canberra and could top $3 if US fuel exports are cut.
Canberra is recording the highest diesel prices of the capital cities at 298.7c per litre, with other cities' prices not far behind. Prices have risen 40 cents per litre since the start of September, adding $22 to the cost of filling a typical 55-litre tank.
The spike stems from Middle East supply disruptions and shipping bottlenecks preventing oil from reaching global markets, while the Brent crude benchmark has held above US$100 per barrel. Worse could follow if the Trump administration bans US diesel exports as part of measures to influence local fuel prices ahead of November elections.
Australia imports nearly all its diesel from overseas, making it vulnerable to global supply shocks.
- 298.7 cents per litre
- Current Canberra diesel price
- 40 cents per litre
- Price rise since September 1
- 1.5 million barrels
- US daily diesel export volume
- Above US$100 per barrel
- Brent crude benchmark
Why it mattersDiesel costs directly affect transport, delivery, and fuel budgets for Australian drivers and businesses.
AustraliaAustralians could face sharp fuel cost increases if US export bans cut global diesel supply further, pushing prices above $3 per litre.
✓ Claims checked against the source. checked 4 h ago
