Australians were warned soon after the Middle East conflict started that the country could run short on fuel, with prices rising to record levels owing to disrupted oil supplies. Now, amid an uneasy peace deal and continued supply disruptions, petrol prices are lower than they were before the conflict began and official warnings over fuel usage have largely disappeared. Why haven’t we run out of fuel? Why were we told to cut back? And what will happen now? How did refiners keep getting oil? The US-Israel war on Iran closed…
Tag: Petrol prices
Two of Australia’s largest sources of jet fuel could be cut off as South Korea and China eye restrictions
South Korean airlines have asked their government to help redirect jet fuel exports to the domestic market, threatening half of Australia’s imports of the critical fuel after Chinese authorities earlier this month flagged export restrictions. Amid deepening concerns across Asia about the impact of the escalating Middle East conflict, an official at South Korea’s transport ministry told the Guardian that “some domestic carriers” had asked authorities to redirect export-bound jet fuel back to the local market due to supply concerns. Any move to restrict exports would hit import-dependent countries particularly…
Oil prices climb to fresh highs, UK petrol price hits record – business live
More reaction is coming in from trade unions, economists and analysts to the increase in the national living wage and the minimum wage from next April. Frances O’Grady, general secretary of the Trades Union Congress (TUC) said a boost to the minimum wage was vital “in the middle of a cost-of-living crisis” But the government must set its sights higher. We need a £10 minimum wage now, and we need ministers to cancel the cut to universal credit. This increase won’t come into effect until next spring by which time…