Dozens of service stations have run out of petrol, especially in regional Australia. Photograph: Lukas Coch/AAPDozens of service stations have run out of petrol, especially in regional Australia. Photograph: Lukas Coch/AAPReader callout: are you feeling the petrol pinch in Australia, and how is it affecting you?Have you cancelled a holiday? Are you working from home more or taking fewer journeys? Tell us your experience
Global oil market prices have surged, with the US-Israel war on Iran disrupting key shipping routes. The strait of Hormuz, where as much as a fifth of global fuel supply travels through, has been closed due to the conflict.
Asia is deeply affected by the crisis, relying heavily on imported energy that passes through the strait.
Australia has been affected too. Authorities have directed fuel companies to release nearly one-fifth of reserve petrol and diesel supplies, and relaxed standards to allow higher sulphur levels in fuel.
The treasurer, Jim Chalmers, has released forecasts indicating that inflation could peak at 5% this year and petrol price hikes could continue to slug motorists until 2029.
Dozens of service stations have run out of petrol, especially in regional Australia, as distributors struggle to keep up with customers panic-buying.
The rideshare company DiDi raised its prices to cover soaring petrol costs, becoming one of the first major companies after the airlines to charge Australian consumers more as a result of the conflict.
We’d like to speak with Australians feeling the petrol pinch.
Are you consciously cutting back on fuel use? Have you cancelled a holiday? Are you working from home more? Are you taking fewer journeys? Are you limiting your use of energy for other things like air conditioning or cooking? Have you found a way to conserve fuel?
We want to hear how you have been affected by these adjustments.
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