Carrington Clark

The price of Brent crude has risen again, currently sitting at around $106 a barrel.

Since we last checked in, the average national price of unleaded has dropped to $1.91 per litre, and the national average price of diesel has dropped to $2.72 per litre.

Today, I'm joined by Alan Kohler to dig into today's major energy headlines.

Good morning, Alan.

Good morning, Carrington.

Alan, we're about to go into a long weekend for some of Australia, and I wanted to kind of look back at the last public holiday that we had, the Easter long weekend, to see how we're sitting when it comes to fuel prices.

So I looked back.

The price of unleaded was around $2.30 back on April 3rd.

Today, as we said, is about $1.91.

It was about $1.80 before the conflict began.

Now, diesel is also lower than it was.

It was around $3.10 for the Easter long weekend.

It's now sitting at $2.72 per litre.

But it was less than $1.90 when the war began.

So it raises the obvious question, why is it that we've seen the price of petrol not rise as much as the price of diesel during this conflict?

It's making that 200 million barrels that Australia was able to secure look even more precious, isn't it?

And we've spoken previously about perhaps the first crunch will be jet fuel, but diesel looks like it might be the next big one to be potentially a supply issue even here.

Alan, I noted that the US President Donald Trump in a social media post said he has all the time in the world.

He's under no time pressure when it comes to negotiations with Iran.

Now, that might be just posturing, obviously, ahead of these negotiations.