Fuel companies will soon face bigger fines for ripping off motorists,  as senior government figures distance themselves from secret advice suggesting a $40 cap at the petrol pump to combat shortages. Legislation doubling fines for false and misleading conduct and cartel behaviour to a maximum of $100 million has been introduced into parliament. While the bill applies across all areas …

Prime Minister Anthony Albanese has been booed and heckled at Australia’s biggest mosque on one of the most important dates on the Islamic calendar, with police removing one protester. Thousands of people lined the streets surrounding Lakemba Mosque in Sydney’s west on Friday morning as they took part in morning prayers ahead of Eid al-Fitr celebrations. Albanese was invited to …

The government has alluded to a “national crisis” and emergency fuel reserves have been released following major international shocks to the global fuel supply from the war in the Middle East. Climate Change and Energy Minister Chris Bowen announced this week that the government will be temporarily lowering fuel quality standards for 60 days to allow higher-sulphur fuel to be sold. They …

The Reserve Bank has increased interest rates by 0.25 percentage points. The new cash rate is 4.1 per cent, up from 3.85 per cent. The RBA has now lifted rates twice in two months (once in February, and again in March). Today’s rate hike was highly anticipated. Early last week, RBA deputy governor Andrew Hauser said high inflation was “toxic” …

The Reserve Bank of Australia (RBA) has hiked interest rates by 0.25 of a percentage point. That means the cash rate is now 4.1 per cent. Leading economists predicted the hike, given inflation was already increasing ahead of the Middle East war, which has put more upward pressure on prices due to oil market disruptions. You can follow the reaction to the RBA’s …

Oil refineries, depots and tankers have all been key targets of US-Israeli and Iranian drone and missile strikes in the first weeks of the war in the Middle East. The attacks have driven oil prices higher internationally, prompting the International Energy Agency (IEA) to announce the release of 400 million barrels of oil from its 32-member countries. In Oman, Saudi …

Two weeks into the war in the Middle East, Iran’s military command said the world should be prepared for oil to hit $US200 ($286) a barrel. But what exactly does that mean for Australians? The war has thrown global economic activity into chaos, disrupting the flow of oil as Iran attacks vessels in the Strait of Hormuz, where about 20 …

The federal government’s decision to ease Australia’s fuel standards in response to elevated oil prices has sparked intense discussion about what it will mean for consumers at the pump. The release of so-called “dirty” fuel into the domestic market — along with the government’s drawing-down of strategic reserves — is intended to ease fears of a fuel shortage brought on by the war in …

The Matildas will face China PR in the semifinals of the Women’s Asian Cup after the Steel Roses required extra time to see off a disciplined and spirited Chinese Taipei at Perth Rectangular Stadium. China huffed and puffed for the entirety of an energy-sapping afternoon in the west, but was forced to wait until the 94th minute to belatedly blow …

US President Donald Trump has threatened to strike the oil infrastructure of Iran’s Kharg Island hub unless Tehran stopped attacking vessels in the Strait of Hormuz, a warning that could further shake markets coping with a historic supply disruption. Mr Trump paired his Friday ultimatum with a social media post saying the US had “totally obliterated” military targets on the …