In a recent move, Australian Prime Minister Anthony Albanese has decided to ease mounting pressure on households and businesses as global fuel prices surge, unveiling a temporary cut to petrol taxes while warning that broader 'energy lockdown'-style measures could still be on the table.
The announcement comes amid a deepening global supply shock tied to escalating tensions in the Middle East, with disruptions around the Strait of Hormuz pushing oil prices higher and triggering panic buying at home.
