Economy

Australia Investigates Fuel Price-Gouging Amid War Shortages

Australia's competition watchdog has launched an investigation into major fuel suppliers — including Ampol, BP, Mobil, and Viva Energy — for alleged anti-competitive conduct as the Iran war drives fuel shortages and threatens to push inflation past 5%. Prime Minister Anthony Albanese has announced a new national fuel supply taskforce and urged motorists to take only what they need. Australia's treasurer Jim Chalmers is simultaneously promising ambitious tax and budget reforms in the upcoming May budget to cushion the economic shock.

Sources

Australia news live: Jim Chalmers promises more tax reform in budget as war threatens to send inflation past 5%

The Guardian · Mar 18

Australia’s major fuel suppliers being investigated over alleged price-gouging amid Iran war

The Guardian · Mar 19

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