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TRANSCRIPT
Police across multiple jurisdictions are warning of a significant rise in fuel theft as the oil crisis hits home - but price relief could be on the way.
The United States, Israel and Iran have reached a tentative, two-week ceasefire after U-S President Donald Trump pressed pause on his threat to bomb civilian infrastructure.
Prime Minister Anthony Albanese has criticised Mr Trump for saying "a whole civilisation will die" if Iran did not make a deal.
"I don't think it's appropriate. The potential of damage to civilian infrastructure was an extraordinary statement to make."
...along with Nationals Leader Matt Canavan:
"The post from the president overnight went way too far and beyond the realms of acceptability.”
But news that Iran will begin allowing tankers through the Strait of Hormuz promises a welcome reprieve for Australian motorists.
Despite these developments, questions have already emerged over the scope of the ceasefire - as Israel contradicts key Pakistani mediators, saying hostilities in Lebanon are not covered under its terms.
And even if the ceasefire holds, relief at the bowser could take weeks to flow through.
Peter Khoury is the head of media with the NRMA.
“We need to remember that service stations today are still selling fuel that they bought at record highs, so it will take time for that to flow on. We also want to make sure that the cuts in the excise are passed on in addition to any falls in wholesale prices that may appear in coming days and weeks."
Production could also be impacted in the longer term by damage to Middle East energy infrastructure inflicted by both sides during the war.
Queensland Premier David Crisafulli is urging the government to boost domestic production by fast-tracking a new oil field, which would be the first new approval in half a century.
"Together we can work towards getting this rolling. And there really is, it's a sea of opportunity for us here in Queensland and in the country, and we have seen in recent times that we're at the end of a supply chain of a global level and it really does leave us vulnerable.”
Among those most vulnerable to price spikes are Australian truckies, and they're taking their fight to the Fair Work Commission.
They're calling for retailers, manufacturers and mining companies to bear more of the burden from ongoing fuel price pressures.
Michael Kaine is the national secretary of the Transport Workers Union.
"Unless we grab this crisis by the scruff of the neck and deal with it, then road transport is going to come to a grinding halt."
Meanwhile, the government is pushing ahead with its drive to shore up supply from international partners.
After speaking by phone to Chinese Premier Li Qiang on the phone, Prime Minister Anthony Albanese will head to Singapore on Thursday.
Defence minister Richard Marles is off to Japan.
Chris Bowen is the federal energy minister.
"We continue to engage very strongly with our international counterparts, particularly in South East Asia, and we've been very pleased that our counterparts have recognised their role in being a reliable energy supplier to Australia, when it comes to liquid fuels, just as they recognise our role and our history as a reliable supplier of other types of energy."
He says Australia's fuel supply remains secure well into May, and the number of service stations without fuel across the nation is currently falling.
A trend motorists will be hoping continues.
