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Politics

Zac de Silva, Allanah Sciberras and John Kidman

Drivers' fuel spend finally drops as oil channel shuts

Oil Petrol Anthony Albanese Australia Peter Khoury Hormuz Strait of Hormuz the Strait of Hormuz

Petrol prices have dipped but there are doubts they will keep dropping as markets remain volatile. (Dean Lewins/AAP PHOTOS)

Australians have slashed their fuel spending for the first time since the start of the Iran war as leaders call for a return to normal oil shipments through the Strait of Hormuz.

Tehran has backflipped on a promise to open the key oil-trading waterway, firing on ships attempting to traverse the strait.

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