🗞️ The paper trail

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All the headlines and more below...

NATIONAL FUEL PRICES (Day-on-Day Change)

TRUCKIES ARE ASKING FAIR WORK TO FORCE COLES AND BHP TO PAY THEIR FUEL BILL

Australia's trucking industry went to the Fair Work Commission this week with unions and employers on the same side. They're asking for an order that would make transport clients (retailers, miners, manufacturers) absorb more of the fuel bill.

Some clients are passing on fuel relief, but most aren't. If the Fair Work Commission orders clients to pay more, it would shift cost pressure upstream to the companies that contract freight, not the operators running the trucks.

Most truckies don't set their own rates. They take what's offered or they don't get the work.

AUSTRALIAN NEWS

• Australian motorists are set to see petrol prices fall within a month as a US-Iran ceasefire drives Brent crude down 15% to below US$91 a barrel. LINK

• Australia is battling a fuel crisis as Iran’s closure of the strait of Hormuz disrupts shipments, hundreds of service stations run dry and the federal government releases reserves and cuts excise. LINK

• Australian transport unions and industry groups are warning the Fair Work Commission that soaring fuel prices are leaving drivers and small operators weeks from collapse as fuel bills surge tens of thousands of dollars. LINK

AUSTRALIA'S MOST POPULAR CAR NOW COSTS $100 MORE TO FILL THAN IT DID IN FEBRUARY

The Ford Ranger, Australia’s most popular car with 56,555 sold last year, cost $144.16 to fill in February. Now it's $244. The base model has an 80-litre diesel tank.

Diesel prices spiked after escalations in the Middle East intensified in late February. Iran supplies 4% of global oil. The Strait of Hormuz carries 21% of the world's petroleum. Australia imports 90% of its refined fuel from Singapore and South Korea, both of which source crude heavily from the region.

The Ranger uses 7.2L per 100km. In February, that cost $12.97. Now it's over $21. Every tradie, courier, fleet operator and logistics company running diesel absorbs that gap or passes it on.

Higher fuel costs move through supply chains and reappear in the price of everything that gets delivered.

COMPANY NEWS

• Coinbase has secured an AFSL directly from ASIC and become the first crypto exchange with retail derivatives authorisation as it prepares to expand products in Australia. LINK

• Flight Centre Travel Group has agreed to sell its 47% stake in Pedal Group to the Turner Collective for US$61.7M. LINK

• Anthropic has lifted its revenue run rate to US$30B as more than 1,000 business customers each spend over US$1M annually and it extends chip collaborations with Broadcom and Google. LINK

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CHART OF THE DAY

Which countries have been to the moon?

ONE MORE SCROLL

Editor’s Pick: Best picnic spots in the world.

Draft Pick: Ken Hinkley says he was shamed and exploited by AFL over controversial fine.

Odd Pick: Dancing robot busts a move, and dishes, after going rogue at California hot pot restaurant.

TRIVIA

Here are two $5,000 questions from Who Wants to be a Millionaire. However we've taken away the multiple choice options. See if you can double up for the day!

1. The Indonesian national flag features which two colours?

2. Who is the youngest person to win a competitive Oscar?

Answers below

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ANSWERS

1. White and Red
2. Tatum O'Neal

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