Albo’s fuel plan: drive to a job you don’t have

Tuesday 21 April 2026

Why Albo’s cowards didn’t initiate diesel constraints for city slickers on day one of the Iran War is beyond me. You can still go and fill up the family jalopy with diesel, only soon you won’t have a job to drive to.

While petrol supplies are expected to remain stable even if the Strait of Hormuz stays closed, diesel and fertiliser face tighter conditions, and they are essential for agriculture, mining and logistics.

Drew Morland, chief executive of diesel wholesaler iOR, said Australia had so far benefited from Asian and European nations drawing down their fuel reserves rather than making purchases on the global spot market where prices have been at historic levels, but warned that would soon change.

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific's leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.