US-Iran war live updates: Anthony Albanese announces fuel excise reduction to cope with soaring fuel prices

The Prime Minister has demanded President Donald Trump set out his clear objectives for the war in the Middle East, and says he wants to see a de-escalation of the conflict.

Anthony Albanese has told reporters there needs to be “more certainty” over what the United States is aiming to achieve and what its objectives are a month into the strikes against Iran.

“I have nothing but contempt for the Iranian regime,” Mr Albanese told reporters but stressed the US President needed to be more upfront about whether regime change was still being pursued.

Australia’s commercial transport and logistics sector will be targeted in a suite of measures announced by the Federal Government to combat the fuel volatility sparked by the Iran war.

Anthony Albanese on Monday said the heavy vehicle road user charge will be reduced to zero across the next three months to help the fuel-reliant industry.

“Our government will reduce the heavy vehicle road user charge to zero for three months to help truckies continue their vital work for our nation,” the PM said.

“In addition to that, we’ve deferred the next scheduled increase in the heavy vehicle road user charge by six months.

“We understand in particular that the heavy vehicle industry is under real pressure.”

The PM said as heavy vehicle registration is linked to state and territories, he raised the truckie support with leaders during their virtual National Cabinet meeting on Monday morning.

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Treasurer Jim Chalmers has revealed the decision to halve fuel excise will reduce the cost of filling up a 65-litre tank by about $19, in what he’s described as “substantial cost of living relief”.

Mr Chalmers says the temporary relief is expected to cost the budget around $2.55 billion over three months, insisiting the move is “timely, it is temporary, and it is responsible”.

A separate initiative to delay the increase in the heavy vehicle road user charge is expected to cost the budget around another $53 million.

The Prime Minister has announced that the fuel excise will be reduced by 26.3 cents per litre for three months, to help motorists cope with soaring fuel prices.

Anthony Albanese has announced the temporary measure following Monday’s meeting of National Cabinet which has also agreed to delay changes to heavy road user charges by six months.

Mr Albanese says leaders have also adopted a National Fuel Security Plan to coordinate a consistent response across the Commonwealth, states and territories.

The Opposition Leader has repeated his calls for a reduction in the petrol excise as the Prime Minister again meets with state leaders this morning to discuss the fuel crisis.

Angus Taylor has outlined four key priorities for the government, including moving fuel to where it’s needed, slashing the petrol excise, improving transparency of where fuel is in the supply chain and explaining what comes next in the crisis.

Mr Taylor says the government must embrace his $1.5 billion excise proposal, but has dodged questions about whether he supports Donald Trump’s war in the Middle East.

Diesel prices in Sydney have climbed as high as $3.39 per litre, with one service station on the Northern Beaches among the most expensive in the city.

The Metro Petroleum outlet at Palm Beach was advertising diesel at $3.39 today, well above the Sydney average of $3.06 per litre, according to the NSW Fuel Check app.

Prices are climbing even higher in some regional and rural areas, where diesel is edging towards $3.50 per litre, adding further pressure on households and businesses already grappling with rising fuel costs.

Supply constraints are also emerging, with 229 service stations across NSW reported to be out of diesel yesterday as demand increases.

Buyers shunned real estate auctions at the weekend as worries about soaring borrowing costs, rising energy prices, and the Middle East war dented confidence.

Auction clearance rates in Sydney reached just 55 per cent on the weekend, versus a March average of 67 per cent. In Melbourne, they hit 59 per cent, versus a March average of 65 per cent, according to data provider Domain.

“Looks headed for price falls,” AMP chief economist Shane Oliver said on the weekend.

“Clearances are continuing to fall with more rate hikes likely and the war depressing buyer confidence and pushing up listings. Withdrawals are also up.”

Interest rate traders still expect the Reserve Bank to raise interest rates 72 basis points in 2026 to take the cash rate from 4.1 per cent to nearly 4.85 per cent in a bid to battle inflation, which Westpac Bank forecasts will reach 5.5 per cent in the second quarter of 2026.

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Treasurer Jim Chalmers says the May budget will still deliver significant reform despite mounting pressure from a global oil supply crunch driven by escalating conflict in the Middle East.

Following reports that the Pentagon is preparing for potential weeks of ground operations in Iran, Dr Chalmers said the Government remained focused on balancing immediate cost-of-living pressures with longer-term economic priorities. He also praised Victoria and Tasmania for introducing free public transport as petrol prices surge and some service stations run dry.

“The budget will be about helping deal with the pressures of the here and now and balancing that against our intergenerational obligations and demands imposed on us by the future,” he said.

“I am still looking to deliver an ambitious budget but it will be a budget which recognises the pressures that people are facing right now as a consequence of this war in the Middle East.

“There will still be reform in this budget. The budget will be about resilience and reform.”

“I wanted to commend Premier (Jacinta) Allan and the Tasmanian government for the steps they have taken on public transport,” he said.

“The Victorian and Tasmanian governments have indicated a willingness to do their bit when it comes to public transport.”

Iran has launched a volunteer recruitment campaign aimed at strengthening its domestic war effort, encouraging citizens to sign up for a range of security and support roles as the conflict continues.

According to CNN, media outlets linked to Iran’s security establishment are promoting the initiative, with one source, Defa Press, reporting that individuals aged 12 and older are eligible to register.

Roles outlined in the campaign include participation in intelligence patrols, operational patrols and checkpoint duties, indicating some volunteers may assist with monitoring and local security activities.

It has been reported by the Israeli Defence Force that multiple sites in Tehran have been struck over the past 24 hours.

Over 150 fighter jets have used over 120 munitions in the strikes that have targeted infrastructure, including sites used by Iran to research and develop ballistic missile systems and military research and production sites.