The Albanese government is contemplating further relief for struggling households and businesses in next month’s federal budget, as peace talks continue between the US and Iran amid a fragile ceasefire.
The infrastructure minister, Catherine King, said the success of those talks was the “best chance” at bringing down fuel prices. But she warned there would be a “long tail” from the crisis even if the strait of Hormuz – which was still being blocked by Iran and strangling global oil supplies – reopened imminently.
