Australia plans to double the fine for fuel shortage.

The global supply disruption caused by the Iran war has led to fuel shortages in some rural areas, prompting the center-left Australian government to introduce legislation in parliament on Wednesday that would double penalties for price gouging. Government statistics show that Australia imported 84% of its petroleum products last year, putting it at risk of global shocks. Despite assurances from the government that the market is adequately supplied, concerns about supply have sparked panic buying, doubling fuel demand in some areas. Treasurer Jim Chalmers said the proposed 2026 Fiscal Act Amendment would impose fines of up to AU$100 million for false or misleading behavior and cartel behavior. He stated that companies are not allowed to use overseas conflicts as an excuse to increase prices, and urged opposition party members to support the bill.