Australian Prime Minister Anthony Albanese warned the economic shocks of the war in the Middle East would be felt for months and encouraged citizens to take public transport in a rare address to the nation on Wednesday. Australia, which imports about 90% of its fuel, has seen petrol prices surge and experienced localized shortages as a result of the U.S.-Israeli war on Iran and the blockade of the Strait of Hormuz. Earlier this week, the government announced it would halve the excise on petrol and diesel and remove the heavy-road-user charge for three months to help households cope with a surge in costs driven by the war, at a cost to the government of around A$2.55 billion ($1.75 billion).
Published at: 2026-04-01 21:38:13
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