🗞️ Fuel tracker

Good morning. There are now over 880 petrol stations across Australia reporting fuel outages.

NSW has 340 stations affected, Queensland 178, Victoria 163 and South Australia 110. The government has granted the ACCC interim authorisation for major fuel companies to coordinate on supply logistics and is underwriting private sector purchases of emergency fuel cargoes.

Good luck to those catching PT this week, you may need to give those blokes who manspread over 2 seats a gentle nudge or a slap on the head.

All the headlines and more below...

NATIONAL FUEL PRICES (Day-on-Day Change)

New South Wales is currently experiencing the most severe impact of the national fuel shortage, with 340 petrol stations explicitly reporting outages across the state.

VICTORIA AND TASMANIA SCRAP PUBLIC TRANSPORT FARES

Victoria is making all trains, trams and buses free for the entire month of April. Tasmania is going further - free buses and ferries from 30 March through to 30 June. Both moves are direct responses to the fuel crisis.

NSW says it's keeping its "powder dry" for a crisis that will last longer than a month. Train use is already up 4% and the Metro is recording some of its biggest days on record. Queensland says its permanent 50 cent fares are already low enough. WA's premier pointed out fares haven't been this cheap since Rick Astley was topping the charts. South Australia is expanding free travel for seniors instead.

Free fares get cars off the road and free up fuel for freight and farming so while it saves commuters it’ll just burn a deeper hole in state government budgets.

AUSTRALIAN NEWS

• Victoria and Tasmania have introduced temporary free public transport to ease fuel cost pressures as NSW, WA, QLD and SA refuse to adopt similar measures. LINK

• Australia is facing diesel shortages as it consumes 7.7 barrels per person annually, 80% above US levels. LINK

• Major Australian transport companies including Uber, Qantas and Australia Post have raised prices in response to soaring fuel costs. LINK

• Australian petrol stations have reported a 25% surge in fuel demand over the past fortnight as hundreds of sites across the country face shortages. LINK

• Electric vehicles have become increasingly attractive to motorists seeking relief from soaring fuel prices. LINK 

• Auction house Pickles has seen a 30% rise in second hand EV sales this month as soaring petrol prices have driven a surge in buyer interest. LINK

• AUSTRAC has expanded its anti-money laundering regime under new government laws, bringing thousands of additional businesses under compliance requirements from July. LINK

• A cyclone has forced the shutdown of major LNG plants across WA worsening a global gas shortage. LINK 

OPENAI JUST KILLED SORA AFTER SIX MONTHS

OpenAI has shut down its AI video generation tool Sora after just 6 months. The move comes weeks after Disney announced a partnership with the app, effectively killing what was shaping up to be a billion-dollar deal with the entertainment giant.

The head of Sora said in October that 30 free generations per day wasn't enough for power users but the cost of running it was bleeding money. OpenAI's CEO of Applications said the company needs to stay focused and cut "unnecessary distractions and side quests." Sora was apparently one of them.

COMPANY NEWS

• Binance Australia to pay a $10M (US$6.9M) penalty as it misclassified over 85% of its Australian clients. LINK

• Canva has reported a combined US$1B loss over 2023 and 2024 as it grew annual revenue to US$2.1B ahead of a potential US IPO. LINK

• King & Wood Mallesons has announced its rebranding as Mallesons while staff are disappointed by the delayed arrival of new merchandise to mark its independence. LINK 

• BYD is considering entering Formula One as the first Chinese automaker while its domestic market contracts, aiming to boost global desirability and emotional equity. LINK 

• Netflix has raised all US subscription prices as it expands into video podcasts and live sports, with the standard plan now costing $19.99 and premium $26.99. LINK

• Disney has unveiled a new site at Disneyland Paris that will create 1,000 new jobs. LINK

• BlackRock CEO Larry Fink has received a 2025 compensation package of $37.7M, up from $30.8M in 2024, as stock awards increased by $6.5M. LINK

GLOBAL NEWS

• The UK is experiencing its first Easter without pre-9pm TV ads for chocolate eggs and hot cross buns as new regulations ban junk food advertising to curb childhood obesity. LINK

• US paper currency will feature President Donald Trump’s signature for the first time starting with US$100 bills in June as part of a redesign marking the 250th anniversary of American independence. LINK

• A US federal judge has ruled that Colgate-Palmolive must face two lawsuits alleging its mouth rinse packaging misleads parents about safety for children. LINK

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CHART OF THE DAY

Iran War - How fuel prices shifted worldwide

ONE MORE SCROLL

Editor’s Pick: Here’s what happens when you eat broccoli every day, according to registered dietitians.

Draft Pick: Kimi Antonelli wins Japan Grand Prix to become youngest F1 championship leader.

Odd Pick: 8 of the biggest historical anniversaries of 2026 (and why they matter).

TRIVIA

We start the week off with 5 True or False questions:

1. Pineapples grow on trees.

2. Your fingernails grow faster than your toenails.

3. Humans and bananas share approximately 50% of the same DNA.

4. An airplane's "black box" is actually yellow.

5. Gold is the most conductive metal on Earth.

Answers below

OUR SOCIALS

ANSWERS

1. False (They grow on a plant close to the ground).
2. True (Fingernails grow about 3-4 times faster).
3. True
4. False - Orange
5. False (Silver is the most conductive, followed by copper and then gold).

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