It follows a fresh escalation in the conflict between the United States and Iran, with US President Donald Trump promising “major military punishment” for Tehran<\/a> over attacks by Yemen’s Houthi rebels on Saudi shipping in the Bab el-Mandeb Strait near the Red Sea.<\/p>\n Track the latest petrol and diesel prices around Australia<\/a><\/p>\n See what’s happening with petrol and diesel prices near you, updated constantly.<\/p>\n The expansion of the conflict along with reduced output from the US has prompted warnings from some analysts of “more sustained” price pressure<\/a> over the months ahead.<\/p>\n Today federal energy minister Chris Bowen said motorists could have confidence in Australia’s fuel supplies despite the uncertainty in the Middle East.<\/p>\n “One thing Australians can be certain about is that our fuel supply continues to be solid and secure,” he said.<\/p>\n “I can tell you that we have 42 days’ worth of petrol, 38 days’ worth of diesel, and 32 days’ worth of jet fuel.<\/p>\n “All of these figures are more than we had on the day Iran was first bombed, on February 28th.”<\/p>\n The federal government’s fuel excise cut was halved this month and expires on August 2. (Reuters: Hollie Adams)<\/p>\n He said in addition to the 6.2 billion litres of fuel in stock, 51 ships were on the water with 3.1 billion litres locked in for delivery over the next month.<\/p>\n “Obviously, as we’ve said consistently, we want to see the situation in the Middle East return to normal,” Mr Bowen said.<\/p>\n “In the meantime, we’ll continue the efforts and the work with our trading partners, with our refiners, to ensure that Australians can have confidence in our fuel supply.”<\/p>\n Oil prices jump back over $US100 a barrel<\/a><\/p>\n The entry of the Houthi rebels into the war between the US and Iran has threatened another vital shipping route through the Middle East.<\/p>\n Mr Bowen gave no indication whether the fuel excise discount due to expire on August 2 would be extended again, but it has previously not been ruled it out.<\/p>\n The cut was halved from 32 cents per litre to 16 cents per litre this month<\/a>, with the discount to the Heavy Vehicle Road User charge also trimmed.<\/p>\n On Friday NMRA spokesman Peter Khoury said he believed the federal government was keeping the option of extending the excise open<\/a> and could make an announcement in coming days.<\/p>\n![\"Cars](\"https:\/\/www.europesays.com\/us\/wp-content\/uploads\/2026\/07\/39d57b3542f156bd4871b83fd0c24820.jpeg\")
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