Fuel crisis escalates — diesel spikes, reserves tight, supermarkets bare soon, food/veggie squeezed, GST relief
Key Questions
What are the current diesel and unleaded fuel prices?
Diesel has spiked to $46/bbl or 320c/L due to Iran-Hormuz issues, with Perth at 318c/L. Unleaded is in the $2.20s per litre post-excise cut.
How widespread are fuel shortages at petrol stations?
Shortages affect 3.4% of stations, down from higher levels in rural and WA areas. FuelWatch is fining gougers and urging consumers to fill up.
When will supermarket shortages from the fuel crisis hit?
Ritchies, NFF, and Ausveg warn of 20-50% price hikes and shortages by Anzac Day. Consumers should brace for months of higher pump and checkout prices.
What measures is the government taking for fuel supply?
Supplies are secured into May via SE Asia with 50+ ships and 30+ days of stock. PM is heading to Singapore and making China calls, while Bowen warns against home storage.
Why are EV sales surging?
EV sales boomed 15% in March (+42% MoM), with petrol sales down 25%, amid fuel crisis fears. Demand is rising even in regional areas.
How are truckers affected by the fuel crisis?
Fuel makes up two-thirds of WA truckers' costs, causing mental strain and potential shutdowns in weeks. Fair Work hearings are addressing the issue.
What changes in transport habits are occurring due to high fuel prices?
Sydney has seen a 25% increase in bike trips as commuters shift from cars. NRMA urges pre-war habits to manage shortages.
Are fertiliser costs impacting farmers and food prices?
Fertiliser prices have doubled, risking winter crops and leading farmers to ditch planting. This contributes to higher food and veggie prices at supermarkets.
Iran-Hormuz diesel $46/bbl/320c/L record (Perth 318c/L), unleaded $2.20s post-excise halve (26c/L Apr-Jun, $2.55B hit); shortages now 3.4% stations (down from 312 rural/WA); FuelWatch fining gouging/urging fill-ups; Sydney bike shift (+25% trips); supplies secured into May via SE Asia (50+ ships, 30+ days), Bowen warns Easter/home storage, PM Singapore trip/China calls, NRMA pre-war habits; EV sales boom 15% March (+42% MoM, petrol -25%); WA truckers fuel 2/3 costs/mental strain—weeks from shutdowns/Fair Work hearing; fert doubles/winter crop risks/farmers ditching; Ritchies/NFF/Ausveg warn 20-50% hikes/shortages Anzac; consumers brace months higher pump/checkout prices; regional EV gaps.