Fuelcast: Are we back to normal?
6/22/20268 min
The fighting may have eased, but the picture in the Strait of Hormuz is still murky - with conflicting claims about whether oil is really moving through one of the world’s most critical shipping routes.
At the same time, the federal government has extended the fuel excise cut, but at a smaller discount. So what does that say about fuel security, petrol prices, and how worried Canberra still is?
Carrington Clarke and Alan Kohler help you stay on top of the numbers behind the ongoing energy crisis on Fuelcast on ABC Business Daily.
Got a burning brent crude question?
Send an email to Carrington and the team abcbusinessdaily@abc.net.au
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Transcript preview
First 90 secondsCarrington Clarke· Host0:00
[upbeat electronic music] ABC Listen: podcasts, radio, news, music, and more [upbeat electronic music] Welcome to Fuel Cast. I'm Carrington Clark, and this is your source to stay on top of the numbers behind the ongoing energy crisis. It's Monday, June the 22nd. We're recording mid-morning, so let's have a look at the latest figures. Since we checked in last week, the price of Brent Crude has fallen to 81 US dollars a barrel, the national average price of unleaded has dropped to $1.64 per liter, and the national average price of diesel has also dropped down to $2 per liter. Today, I'm joined by Alan Kohler to dig into the major energy headlines. Good morning, Alan.
Alan Kohler· Guest0:45
Good morning, Carrington.
Carrington Clarke· Host0:46
Okay, Alan, let's try to make sense of where we're at in terms of negotiations between the US and Iran. So they're trying to, to strike a deal which will basically kick in after the MOU is supposed to expire after the 60 days. Now, on one hand, we had some talks led by the US Vice President JD Vance on the US side, but meeting with Iranian officials in Switzerland, but the talks seemed to go off track because of Donald Trump's interruptions from the sidelines, if you will. He's, uh, over in the US, he's... He, he went to social media threatening Iran. He also did a, a series of interviews again, uh, threatened Iran, particularly when it came to the Strait of Hormuz.