{"id":516177,"date":"2026-03-03T14:54:17","date_gmt":"2026-03-03T14:54:17","guid":{"rendered":"https:\/\/www.newsbeep.com\/au\/516177\/"},"modified":"2026-03-03T14:54:17","modified_gmt":"2026-03-03T14:54:17","slug":"israel-iran-war-drivers-queue-across-australia-amid-petrol-price-fears-but-true-bowser-pain-could-be-10-days-away","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/au\/516177\/","title":{"rendered":"Israel-Iran war: Drivers queue across Australia amid petrol price fears but true bowser pain could be 10 days away"},"content":{"rendered":"

Drivers are flocking to service stations to fill up amid fears supply will dry up and prices will skyrocket as a result of the Middle East conflict however the true impact on hip pockets may still be 10 days away.<\/p>\n

Across Australia, pumps are working overtime as drivers queue to fill their tanks before prices soar in response to the Israel and Iran war.<\/p>\n

WATCH THE VIDEO ABOVE: Drivers stock up on fuel amid fears of shortage, high prices<\/p>\n

Know the news with the 7NEWS app: Download today Arrow<\/a><\/p>\n

In Melbourne, drivers were bumper to bumper down the road at Malvern to pick up fuel with some bringing jerry cans for extra supply.<\/p>\n

At Costco in Ardeer, demand was so high they actually ran out of 91 and 98 overnight as motorists took advantage of the $1.56 fuel.<\/p>\n

The anxiety is being fuelled by Australia\u2019s extremely low petrol reserves.<\/p>\n

The International Energy Agency saying we should have 90 days\u2019 supply but right now we only have 36 days of petrol and 34 of diesel.<\/p>\n

Iran is blocking the Strait of Hormuz – the gateway for 20 per cent of the world\u2019s oil – and threatening to set on fire any ship which tries to use the route which could impact Australia\u2019s access to refilling its reserves.<\/p>\n

\"LocationsLocations of ships nearby to the Straight of Hormuz at 8.40am on March 3 AEST. Credit: Marine Traffic\"TheThe Strait of Hormuz is a critical chokepoint in the Gulf, currently crowded with cruise and cargo vessels as regional tensions escalate. Credit: Google Maps<\/p>\n

The consumer watchdog ACCC has been tasked with monitoring fuel prices to ensure retailers don\u2019t use this as an excuse to unfairly hike prices.<\/p>\n

\u201cWhat is happening overseas takes about seven to 10 days to flow onto the Australian market,\u201d NRMA\u2019s Peter Khoury said.<\/p>\n

\u201cWe should not see sudden increases in prices at the bowser; it will take time to flow on.<\/p>\n

\u201cIf service stations do start increasing their prices dramatically that is unacceptable.\u201d<\/p>\n

Experts say there is no need to panic right now with only a mild increase in global oil prices of about 10 per cent in the wake of the conflict.<\/p>\n

\u201cThe best strategy for motorists is to make sure that you\u2019re getting petrol at the lowest price that\u2019s in the market on the day, at the time that you\u2019re looking for it,\u201d RAA\u2019s Peter Nattrass said.<\/p>\n

\"SomeSome retailers in Sydney, Melbourne and Brisbane are selling E10 petrol for well over $2 a litre. (Flavio Brancaleone\/AAP PHOTOS) Credit: AAP\"SomeSome drivers have queued for petrol since early this morning. (Joel Carrett\/AAP PHOTOS) Credit: AAP<\/p>\n

The national average across Australia for unleaded in the past week is $1.83 per litre. The most expensive on average is $2.25 in the Northern Territory, $1.88 in Queensland and Victoria while Western Australia is the cheapest at $1.66.<\/p>\n

Prices have risen by eight per cent of the past week, Petrol Mate data shows.<\/p>\n

But some retailers in Sydney, Melbourne and Brisbane are selling E10 petrol for well over $2 a litre, with diesel prices even higher in some areas.<\/p>\n

Wholesale prices had gone up four cents a litre for petrol and three cents a litre for diesel, Khoury said – an increase likely to be passed on to motorists.<\/p>\n

\"TheThe fears are stoked by the escalating Middle East conflict. Credit: 7NEWS\"ConflictConflict between Iran and the Middle East is continuing. Credit: 7NEWS<\/p>\n

There is some speculation prices could peak at $2.40 a litre in some states when the impacts of the conflict hit Australia.<\/p>\n

But the conflict hasn\u2019t done set oil prices skyrocketing yet, AMP chief economist Shane Oliver said.<\/p>\n

\u201cSo far we haven\u2019t seen the horror scenarios where it surges through $100 (a barrel) yet, but that may still happen.<\/p>\n

\u201cI think there was general panic expected (on Monday) and overnight, and we didn\u2019t see that so far in oil markets and share markets.\u201d<\/p>\n

– With AAP.<\/p>\n

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