Episode Details

The announcement of a ceasefire in the Middle East looks set to reduce motorists' pain at the pump, with Iran agreeing to allow ships through the Strait of Hormuz.But even if the ceasefire holds, it's likely price reductions will take time to flow through, and disruption to global markets could have a long tail. The government is again urging calm, saying fuel supplies are secure into May, as it works to shore up supply from international partners.