To keep members informed, we have prepared a brief update on the current fuel supply situation and broader economic impacts.
13 May 2026
Crude Oil
Crude oil prices have risen sharply following reports that Donald Trump has directed his administration to prepare for a potential blockade of the Strait of Hormuz.
As at 13 May 2026, crude oil prices reached USD $107.00 per barrel, up 4% from last week.
Average Fuel Prices – NSW
Fuel prices have eased from their recent peaks following the initial escalation of US action against Iran.
Sydney E10 (91)
186.2 cpl
average price
Diesel
233.0 cpl
average price
- Average E10 (91) prices in Sydney are currently around 186.2 cents per litre.
- Diesel prices have decreased from over 300.0 cpl to approximately 233.0 cpl.
- Regional fuel prices remain higher than metropolitan areas and continue to vary by location.
Australia’s Fuel Stocks
as at 28 April 2026
These levels represent an increase compared to pre-crisis levels, as the Federal Government continues efforts to strengthen national fuel reserves. The Federal Government has also announced a $10 billion fuel security plan aimed at increasing national reserves.
Broader Economic Impacts
ASX Performance
8,646.6
↓ (-0.63%)
As at 13 May 2026, the ASX was trading at 8,646.6, remaining below its late-February level of 9,198.6.
Inflation
4.6%
↑ up from 3.7%
Australia’s annual inflation rate rose to 4.6% for the year to March 2026, up from 3.7% in the previous month.
Broader economic pressures remain closely linked to global oil prices, fuel supply constraints and ongoing geopolitical tensions. This increase is largely attributed to rising global oil prices and supply constraints linked to ongoing tensions in the Middle East.
Further Information
The government’s new fuel security awareness campaign is available online. Further public information on the Fuel Security Plan is also available.
Information on government support for business is available on business.gov.au.
Thank you and please contact us should you have any questions.