Regional instability in the Middle East continues to disrupt global supply chains as talks to end the conflict between the United States (US) and Iran slowly progress. New strikes launched by the US have been described as “proportional and limited” against “unjustified Iranian aggression”.
The Australian, state and territory governments have taken steps to ensure consumers are shielded from fuel price increases.
The reduction of the fuel excise by 32 cents per litre (until 30 June 2026), has reduced the direct price impact for consumers, while agreements with Singapore and South Korea are in place to secure fuel supplies going forward.
Diesel and jet fuel users, including aviation and shipping companies, land freight providers and farmers remain significantly impacted by higher diesel fuel costs. In addition to securing emergency fuel stocks, Australia has sourced additional fertiliser stocks through an agreement with Brunei to bolster the supplies required for the agricultural industry.
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