Today
Government to help buy ‘shiploads of fuel’ under new powers
The government will use taxpayer funds to underwrite the purchase of critical imported fuel as the conflict in the Middle East threatens national supplies.
‘It will affect everything’: This was the week the war hit home
The war is no longer distant. From farms to supermarkets, the shock is spreading through the economy, and Australia could be pushed towards recession if it drags on.
Yesterday
EV tax break to roll on as sales soar
The Albanese government is reconsidering plans to scale back the $1.3 billion-a-year fringe benefits tax exemption for electric vehicles.
How the fuel crisis could fix a hole in the EV market
Stephen Yiu lives near a petrol station, and is constantly reminded of his escape from soaring prices as new and used EV sales jump.
Fuel supply now guaranteed until May, after which uncertainty looms
The prime minister says there will be a nationally consistent response to the fuel crisis and not a rerun of the COVID-19 fiasco where states went their own ways.
Bin the rubbish tax amid fuel crunch, waste industry pleads
The peak industry group is pleading with the City of Melbourne to scrap its $3750 tax on waste trucks in the CBD and warns it will exacerbate impacts of the fuel crisis.
Grey nomads stay home over fear of getting stranded without fuel
A five-week caravan trip is now off the cards for a group of avid travellers, as concerns over fuel supply crimp their holiday plans.
This Month
Labor’s wage rise plan amid oil spike risks ‘stagflation’
Economists fear a decision to increase minimum pay could aggravate impacts of the energy price shock, push inflation higher and put more people out of work.
‘Needless secrecy’: Government resolves to be upfront over fuel crisis
National cabinet will meet next Monday to discuss the crisis, amid some internal frustration over the government’s tone and messaging to date.
Luxury apartment prices jump by $125,000 as war sends build costs soaring
Rising energy costs are quickly making their way through the construction sector, posing a further threat to the feasibility of projects.
Bank investors ‘should run for exit’ if Middle East conflict worsens
Bank sector analysts expect ANZ, Westpac, and National Australia Bank to top up their bad debt provisions when they announce interim results in May
South Korean energy curbs escalate calls for Canberra emergency plan
One of Australia’s leading suppliers of diesel and petrol has placed restrictions on car use, ramping up pressure on the federal government to act locally.
This law firm is paying staff $30 a week to forgo WFH
The temporary fuel relief program aims to help offset the rising cost of travelling to the office, as fuel prices soar in response to the Middle East conflict.
Banks rebuff work from home calls as Wesfarmers pauses business travel
Australia Post joins Qantas and Virgin in hiking prices, while the big four lenders are holding firm against union demands to allow staff to log in remotely.
The town where you can buy only enough fuel to get to the next stop
A service station owner in a remote Queensland town has started imposing limits on passing customers, who are already paying $3.25 a litre for diesel.
Petrol price spike side effect: trains are fuller, roads are not
In Sydney, road usage is down and train and Metro trips up as commuters seek a cheaper ride. State governments are so far resisting more drastic solutions.
Trump’s off-ramp in Iran won’t fix Australia’s bottom line
With only one-10th of the pre-war amount of oil making it through the Strait of Hormuz, even the best-case scenarios spell inflation pressures for longer.
‘This is not COVID’: Business tells Bowen to back off over WFH
Business leaders are fuming after the energy minister suggested it would be “sensible” for Australians to consider working from home during the fuel crisis.
Fuel price gouging fears distract from our real energy problem
Petrol demand is too inelastic to respond to the price signal. Whether we like it or not, this country runs on diesel.
Work from home and limit flights, urges IEA, as fuel crisis deepens
The International Energy Agency warning came as major companies reworked pricing and supply chains to withstand a drawn-out Middle East conflict.
