MTA NSW Fuel Watch - 1 May
![]()
To keep members informed, we have prepared a brief update on the current fuel supply situation and broader economic impacts.
1/5/2026
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 1 May 2026, crude oil prices reached USD $114.09 per barrel, up from USD $66.31 per barrel on 28 February, prior to the commencement of US military action involving Iran.
Average Fuel Prices – NSW
Fuel prices have eased from their recent peaks following the initial escalation of US action against Iran.
- Average E10 (91) prices in Sydney are currently around 171.0 cents per litre (cpl)
- Diesel prices have decreased from over 300.0 cpl to approximately 248.2 cpl
Regional fuel prices remain higher than metropolitan areas and continue to vary by location.
Australia’s Fuel Stocks
(as at 21 April 2026)
- Petrol: 44 days
- Kerosene: 30 days
- Diesel: 33 days
These levels represent an increase compared to pre-crisis levels, as the Federal Government continues efforts to strengthen national fuel reserves.
ASX Performance
The ASX declined by 21.20 points (-0.24%) on Wednesday to 8,665.8, down from 9,198 in late February.
Inflation
Australia’s annual inflation rate rose to 4.6% for the year to March 2026, up from 3.7% in the previous month.
This increase is largely attributed to rising global oil prices and supply constraints linked to ongoing tensions in the Middle East.
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.
< Back