68
War & Conflict2h 35m ago

Australian motorists are unlikely to benefit significantly from a potential Iran peace deal due to the looming end of a fuel tax cut, despite US President Donald Trump touting an imminent peace agreement.

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Australia, Middle East, Tehran

Who
Australian motorists, US President Donald Trump, Prime Minister Anthony Albanese, Energy Minister Chris Bowen, AMP chief economist Shane Oliver, NRMA spokesman Peter Khoury, Treasurer Jim Chalmers
What
Australian motorists are unlikely to benefit significantly from a potential Iran peace deal due to the looming end of a fuel tax cut, despite US President Donald Trump touting an imminent peace agreement.
When
Fri, 12 Jun 2026 17:32:59 GMT · 2h 35m ago
Where
Australia, Middle East, Tehran ·
Why
The Australian government is unlikely to extend the 32-cent-a-litre fuel tax cut, costing $3 billion, which would negate any fall in global oil prices from a peace deal to end the Iran war.
The Frontline Impact

How this affects you

The end of Australia's fuel tax cut, combined with potential lingering oil price risk premiums even after an Iran peace deal, means Australian motorists are projected to face higher petrol prices regardless of Middle East developments. A potential closure of the Strait of Hormuz could further impact global oil supplies.

Story chain

37 events in this thread
  1. War & Conflict37m ago
    President Donald Trump announced that the U.S. is nearing a deal with Iran to conclude the war, with a memorandum of understanding expected to be signed in the coming days.
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  2. War & Conflict1h 2m ago
    Donald Trump criticized Iran's leaked draft deal for ending the war as 'weak and pathetic,' which included a demand for $300 billion and refusal to cede control of the Strait of Hormuz.
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  3. War & Conflict1h 2m ago
    Donald Trump criticized Iran's draft deal, published by state media, which demanded $300 billion to end the war and rejected relinquishing control of the Strait of Hormuz.
    Open article
  4. War & Conflict2h 2m ago
    Pakistan's Prime Minister Shehbaz Sharif claims a final peace deal has been reached between the US and Iran to end the war, but Iran denies the reports.
    Open article
  5. War & Conflict2h 2m ago
    Pakistan's prime minister, Shehbaz Sharif, claimed that a final peace accord between the US and Iran had been reached, though Iran later denied these reports, stating no deal has been finalized.
    Open article
  6. War & Conflict2h 7m ago
    The United States last month reportedly considered a military operation to send ground troops into Iran to seize its highly enriched uranium, but President Donald Trump paused the plan due to concerns about retaliation, casualties, and wider economic fallout.
    Open article
  7. War & Conflict2h 30m ago
    Pakistan Prime Minister Shehbaz Sharif claimed on Friday that a "final, agreed-upon text" of a peace deal between the United States and Iran had been reached regarding the conflict in West Asia.
    Open article
  8. War & Conflict2h 30m ago
    Pakistan Prime Minister Shehbaz Sharif claimed on Friday that a 'final, agreed-upon text' of a peace deal between the United States and Iran had been reached regarding the conflict in West Asia.
    Open article
  9. War & Conflict2h 30m ago
    Pakistan Prime Minister Shehbaz Sharif claimed on Friday that a 'final, agreed-upon text' of a peace deal between the United States and Iran had been reached.
    Open article
  10. War & Conflict2h 34m ago
    A senior U.S. official said that the United States and Iran are very close to a deal to resolve their conflict, with a signing expected in the coming days.
    Open article
  11. War & Conflict2h 34m ago
    A senior U.S. official said that the United States and Iran are very close to a deal to resolve their conflict, and Washington expects to sign a deal in the coming days.
    Open article
  12. War & Conflict2h 34m ago
    A senior U.S. official stated on Friday that the United States and Iran are very close to a deal to resolve their conflict, with Washington expecting to sign a deal in the coming days.
    Open article
  13. Currently Reading2h 35m ago
    Australian motorists are unlikely to benefit significantly from a potential Iran peace deal due to the looming end of a fuel tax cut, despite US President Donald Trump touting an imminent peace agreement.
  14. War & Conflict3h 11m ago
    The final, agreed-upon text of the Iran-US peace deal has been reached, and Pakistan is now working with both sides to finalize the next steps.
    Open article
  15. War & Conflict3h 11m ago
    The final, agreed-upon text of the Iran-US peace deal has been reached, and Pakistan is now working with both sides to finalize the next steps.
    Open article
  16. War & Conflict3h 31m ago
    Donald Trump has said that Iranian claims regarding a peace deal bear “no relation to the truth”, as peace talks descend once again into chaos.
    Open article
  17. War & Conflict3h 59m ago
    U.S. President Donald Trump said Thursday that he called off fresh strikes on Iran as he claimed a deal to end the war was imminent.
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  18. War & Conflict4h 7m ago
    U.S. President Donald Trump said Thursday that he called off fresh strikes on Iran, claiming a deal to end the war was imminent.
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  19. War & Conflict4h 7m ago
    U.S. President Donald Trump said Thursday that he called off fresh strikes on Iran, claiming a deal to end the war was imminent, following back-and-forth strikes earlier this week that pushed a shaky ceasefire to the edge of collapse.
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  20. War & Conflict4h 9m ago
    The United States and Iran are close to signing an agreement aimed at ending their war, three regional officials told the Associated Press on Friday.
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  21. War & Conflict4h 9m ago
    The United States and Iran are close to signing an agreement aimed at ending their war, according to three regional officials who spoke with the Associated Press on Friday.
    Open article
  22. War & Conflict4h 11m ago
    The United States and Iran are close to signing an agreement aimed at ending their war, three regional officials told The Associated Press on Friday.
    Open article
  23. War & Conflict4h 14m ago
    Oil prices slid to a two-month low as conflicting signals from Washington and Tehran fueled uncertainty over a potential U.S.-Iran deal.
    Open article
  24. War & Conflict4h 21m ago
    The United States and Iran are close to signing an agreement aimed at ending their war, with a senior U.S. official stating the tentative deal includes terms for removing and destroying nuclear material from Iran.
    Open article
  25. War & Conflict4h 33m ago
    The United States and Iran are close to signing an agreement aimed at ending their war, according to three regional officials who spoke Friday to The Associated Press.
    Open article
  26. War & Conflict4h 37m ago
    Media speculation surrounds an anticipated peace agreement between Iran and the United States, prompting Tehran to urge caution.
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  27. War & Conflict4h 39m ago
    Iran urged media on Friday to avoid speculating about the contents of a potential peace agreement with the US, stating details would be made public upon finalization.
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  28. War & Conflict5h 7m ago
    Iranian Foreign Minister Abbas Araqchi announced on Friday the near-finalization of an 'Islamabad Memorandum of Understanding' aimed at addressing tensions with the U.S. and Israel.
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  29. War & Conflict6h 8m ago
    Pakistan's efforts to mediate a peace deal between the United States and Iran have diminished, with Iran publicly rejecting Pakistan as a suitable intermediary and Qatar emerging as a key mediator.
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  30. War & Conflict7h 50m ago
    US stock futures rose on June 12, buoyed by hopes for a US-Iran peace deal, causing S&P 500 futures to gain 0.6% and oil prices to sink to a two-month low.
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  31. War & Conflict8h 20m ago
    A memorandum aimed at halting the war in the Gulf could be signed as early as Sunday, with Geneva emerging as the most likely venue.
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  32. War & Conflict8h 21m ago
    Iran's state media reported on Friday that a draft agreement with the United States stipulates Tehran would not relinquish control over the strategic Strait of Hormuz.
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  33. War & Conflict9h 13m ago
    Iran on Friday published the 14-point memorandum of understanding (MoU) that it is negotiating with the United States.
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  34. War & Conflict9h 13m ago
    Iran on Friday published the 14-point memorandum of understanding (MoU) that it is negotiating with the United States.
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  35. War & Conflict9h 47m ago
    The US and Iran are reportedly nearing a peace deal that could lead to the reopening of the Strait of Hormuz, with discussions expected at the upcoming G7 meeting.
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  36. War & Conflict10h 7m ago
    The United States launched retaliatory airstrikes on strategic targets in southern Iran near the Strait of Hormuz on Tuesday and again on Wednesday, following the downing of a U.S. Apache helicopter by an Iranian drone on Tuesday.
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  37. War & Conflict10h 33m ago
    A draft agreement between Iran and the United States has been published, proposing an immediate and permanent end to fighting on all fronts, including in Lebanon.
    Open article

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