00:02A glimmer of hope for Australia's cash-strapped drivers.
00:06The price of unleaded petrol in parts of the country now dropping below $2 a litre.
00:13I travel a lot for work so it's really good in terms of saving a little bit of money.
00:18Probably about 40 odd cents cheaper since last time, which is a very welcome surprise.
00:23The Energy Minister today announcing Australia's petrol reserve is now higher than when the Iran war broke out.
00:31We now have 10 days more petrol than we had when this international crisis began.
00:36And a welcome decline in the number of service stations battling shortages.
00:4198.5% of service stations are well stocked with diesel and a higher proportion for petrol.
00:47The ABC fuel tracker, which examines thousands of petrol stations across Australia, shows the average cost of petrol is now
00:55$2.07 a litre and diesel is now $3 a litre.
01:00But the Prime Minister is warning cost of living pressures will continue.
01:05Even if the Strait of Hormuz remains open, he says the oil price will remain high for some time.
01:12You're talking 90 days before the expectation at least.
01:17Following last night's virtual meeting of nearly 50 world leaders, the Prime Minister revealed there'll be a second meeting in
01:25London next week to continue discussions around joint action to protect the Strait of Hormuz.
01:32Leaving the door open to committing military assets to safeguard the shipping channel.
01:36For example, we already have the E7 there that's providing a role.
01:42Australia should do whatever is reasonable and has requested of us to help out with that.
01:50The government also announced it will maintain relaxed fuel standards until September and has secured enough supply until the start
01:58of June.
01:58Or do you still go to this side of the argument, or?
01:59Where will you keep doing tourai singleç wandering?
01:59I think it's supposed to be good for ĐČŃŃ air.
01:59Have a good error when Bug on Saturday.
02:00They share things for the next week.
02:00The Juno inbox of us at all three weeks to get méthod as well.
02:00And theshot ë¶ë€, I really wish you, what are normal to make our first two weeks,
02:00But the way we will usually do that for vast cons,
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