Fuelcast: Petrol-diplomacy
5/4/20268 min
Donald Trump says “Project Freedom” will aim to help guide stranded ships through the Strait of Hormuz - but with little detail and no clear response yet from Iran, the big question is whether it changes anything.
With Brent crude still above US$100 a barrel and diesel creeping higher, should Australians brace for higher prices at the bowser?
And with Japanese Prime Minister Sanae Takaichi landing in Australia, "petrol-diplomacy" is under way.
Carrington Clarke and Alan Kohler help you keep 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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First 90 secondsSpeaker 00:00
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Carrington Clarke· Host0:05
[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, May the 4th. We're recording mid-morning. Let's have a look at the figures. The price of Brent Crude has fallen to 108 US dollars a barrel since we last checked in. The national average price of unleaded has fallen to $1.85 per liter, and the national average price of diesel has risen to $2.65 per liter. Today, I'm joined by Alan Kohler to dig into the major energy headlines. Good morning, Alan.
Alan Kohler· Guest0:44
Good morning, Carrington.
Carrington Clarke· Host0:45
Alan, Donald Trump has announced this new Project Freedom, which he says will kick off tomorrow with the US helping to guide stranded ships through the Strait of Hormuz. Now, there's very little detail about this plan. According to The Wall Street Journal, it does not include the US Navy escorting ships, but US Central Command says the support will include guided missile destroyers, over 100 land and sea-based aircraft, multi-domain unmanned platforms, and 15,000 service members. So very little in the way of detail. We haven't seen a major reaction when it comes to the oil price. What