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Australian fuel price increases

Updated 1 time since CLSTR started tracking revisions of this situation.

What changed

2026-10-12 06:42 UTC → 2026-10-26 05:04 UTC · added ~~removed~~

Fuel prices in Australia have experienced a significant upward trend. In mid-September, Perth saw average unleaded fuel prices reach $2.30 per litre following the expiration of temporary federal and Western Australian fuel excise cuts on August 2. By October, national average prices for regular unleaded petrol exceeded $2.40 per litre for the first time in over six months. This increase is attributed to escalating tensions in the Middle East, including threats to key shipping lanes like the Strait of Hormuz and the Red Sea, and conflict involving Iran-backed Houthis and Saudi Arabia. These geopolitical instabilities have contributed to Brent crude oil surging as high as $US105 per barrel and have raised concerns regarding a global oil shortage. Diesel prices have also faced extreme volatility. Following the start of the Iran war on February 28, 2026, diesel prices rose sharply, at one point exceeding 300 cents per litre. The escalation of the Middle East conflict caused diesel to rise faster than crude oil, widening the price gap from approximately 102 cents per litre to 148 cents per litre. These rising costs are creating significant financial pressure for Australian grain growers during seeding and harvest stages.

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