US, Iran war updates: Donald Trump labels Australia ‘not great’ for not supporting Strait of Hormuz security

The Coalition has called on the Albanese Government to cut the fuel excise for three months to help Australians who are being stung by high prices at the bowser.

Their proposal suggested that cuts to EV rebates and other green energy initiatives could cover a $1.5 billion cost.

Asked directly about the cut on Friday, the Prime Minister and Energy Minister did not support the suggestion.

“They’ve called for cuts to EV support. I don’t think there’s anyone out there today who has bought an electric vehicle who is regretting the decision,” Anthony Albanese said.

Chris Bowen added: “We know what pressure petrol prices are putting on Australian families, but we don’t think you make petrol cheaper by making energy more expensive.”

Prime Minister Anthony Albanese said that Australia’s fuel supply “in the short term” was secure, however, he took a very serious tone when discussing longer term arrangements.

He says his government is working around the clock to combat the fuel crisis.

Last week, Mr Albanese was forced to hit the phones in an attempt to lock in more fuel deliveries for Australia, securing a pledge from Singapore to work with Australia.

Mr Albanese confirmed six jet fuel tankers that had their deliveries cancelled have now been replaced with other options.

Prime Minister Anthony Albanese said “everyone has to take their responsibility” in tackling the impacts of the US-Iran war on Australians.

“The focus on Monday will be national coordination,” Mr Albanese reiterated.

“Everyone has to take their responsibility. We are doing that.”

The PM and Energy Minister Chris Bowen said that petrol stations have different rules on reporting, depending on the state they are in.

Although the two talked up the reporting that had taken place, allowing State and Federal governments to monitor the situation, they said more needs to be done.

Prime Minister Anthony Albanese says his Government is attempting to be “overprepared for what may come”, flagging that, unlike the COVID response, any response to the war in Iran would be national.

“This war is real, this war is having an impact on Australians,” Mr Albanese said.

“What you can do is respond in an appropriate, orderly adult way.

“One of the lessons of the COVID pandemic is that we made a number of decisions as a nation that could have been made better.

Mr Albanese said he was “looking forward” to national cabinet on Monday, adding any recommendations that come out of it should be national.

The PM added that “six tankers of jet fuel will arrive between tomorrow and the 8th of April from China”.

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Australian farmers have called for the government to work towards opening up American markets for fertiliser amid Iran war-induced shortages.

National Farmers Federation President Hamish McIntyre said worries were mounting ahead of the cropping season that farmers would be able to sow their full program.

“We’re extremely worried. We’re in a situation now that we need fertiliser - no matter how it gets here or where it’s from,” he told The Nightly.

“We encourage the Federal Government to explore fuel and fertiliser markets in North and South America.

“We need the government to think laterally about all options available to Australian farmers.”

Deputy Prime Minister Richard Marles has refused to comment on Donald Trump’s criticism of Australia as “not great”.

Mr Marles instead reiterated on Friday the Government’s belief that the US hadn’t made any formal requests for help with its war in Iran.

He said the only request from the US had been to support the defence of the Gulf states. The UAE had also asked for Australia’s help, and it sent an E-7 Wedgetail surveillance plane and crew, along with defensive air-to-air missiles.

“The one request we’ve had from the United States has been in respect of providing support for the defence of the Gulf states,” Mr Marles told ABC TV.

“We’re looking at all the requests that we get from countries around the world, including the United States, and obviously, we answer them in the context of our national interest … we will continue to respond to this. We are playing our part.

“The last thing I’m going to do is give a running commentary on what the President has said. All we can do is respond to this situation, respond to the requests that are made of us, but doing so very much with a focus on what is Australia’s interest.”

The Coalition has called on the Government to halve the fuel excise to cut the price of petrol by 26 cents a litre for three months to ease the effects of the war in the Middle East.

Opposition Leader Angus Taylor said the $1.5 billion cost of doing so could be paid for by cutting tax breaks for electric vehicles and subsidies for home batteries and green hydrogen.

He’s also proposed halving the road user charge imposed on trucks.

“We need affordable fuel in this country. We need secure fuel in this country, and we need it as fast as possible,” he told reporters at a petrol station in Canberra.

The Government has repeatedly said it isn’t considering cutting fuel excise at the moment.

The previous Coalition government cut it temporarily during COVID.

Stocks on Wall Street suffered their largest daily decline since the start of the war with Iran on Thursday, falling as oil prices rose sharply after US President Donald Trump raised the pressure on Iran to accept terms to end the war.

“We’ll just keep blowing them away, unimpeded,” Mr Trump said at his first Cabinet meeting since the war started. While the S&P 500 had started Thursday with a decline, the losses deepened after the meeting.

The index fell 1.7 per cent on Thursday, its biggest daily decline since January, putting the index on course for its fifth straight week of losses for the first time in four years.

The price of Brent crude, the global benchmark for oil, rose roughly 5.7 per cent, to $108.01 a barrel, its highest this week.

US stock futures rose Thursday night after Mr Trump extended a deadline to attack Iran’s energy infrastructure, amid ongoing negotiations with the Islamic Republic.

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Benchmark Brent Crude prices climbed to $US101.30 on Friday morning in Australia after US President Donald Trump said he would extend a pause on attacking Iran’s energy facilities by 10 days, to April 6, at the request of Iran’s government.

The announcement of a 10-day pause came after Wall Street fell heavily again on Thursday, as rising oil prices also signalled traders doubt a peace deal and reopening of the Strait of Hormuz are close in the Middle East.

Australian equity futures point to a near 1 per cent fall at the open as the flagship S&P/ASX 200 Index heads for its fourth straight week of losses and a 10 per cent fall equal to a technical correction since the Middle East war erupted.

“Crude oil rallied after signs of negotiations gave way to rising tensions in the Middle East conflict. President Trump threatened Iran with intensified military action, with both sides seemingly miles apart in talks over a ceasefire,” said ANZ Bank’s economics team. “Oil prices rose after Trump (earlier) said that he doesn’t know if the US is willing to work with Iran on a deal.”

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US President Donald Trump has taken another swipe at the support he received from the Albanese Government in protecting the Strait of Hormuz.

Mr Trump has pressured Australia, the UK and NATO to step in, alongside the US, in the Strait of Hormuz while the US armed forces waged war, with Israel, in Iran.

“Australia was not great. I was a little surprised by Australia,” he said, speaking at the White House.

“I wouldn’t say anybody was great other than the five countries in the Middle East.

“We never really had very much support.”

“They should get involved, and I was a little bit surprised that they said no, because we always say yes to them,” Mr Trump added.