Australia imports around 90% of its petrol, diesel, and jet fuel. When global supply chains break down, Australians feel it fast and that is exactly what has happened in 2026. The crisis intensified in March when Iran effectively closed the Strait of Hormuz, choking off roughly one-fifth of global seaborne oil trade and exposing Australia’s heavy reliance on imported refined fuels primarily from Asian refineries in Singapore, South Korea, and Malaysia, which depend on Middle Eastern crude. The result has been a dramatic spike in petrol and diesel prices in…
Read MoreAustralia Diesel Prices Hit Record High as Fuel Crisis Disrupts Easter 2026
