Beetaloo Energy Secures $71M for Gas Push

0:00Australians are switching up their spending, big time, spooked by the war with Iran, skyrocketing fuel costs, and inflation on the rise. In March, folks cut back on extras like fun outings, while canned food hoarding spiked and loans for electric vehicles jumped 161 percent. House prices dipped in Sydney and Melbourne with weaker auction results, and more people are tapping the bank of mum and dad for everyday bills. Spending shifted hard toward fuel and basics, even if total dollars stayed steady. Consumers are feeling the pinch, dialing back holidays, restaurant meals, and clotheshopping, which hurts retailers who were just gaining steam. They're hunting sales, leaning on loyalty programs, and driving less major roads saw traffic drops to save on petrol. The war has got everyone on edge with a shaky two week ceasefire that crumbled fast, and now President Trump set a new deadline, threatening a blockade. Of the Strait of Hormuz, markets tumbled, Aussie stocks fell with Asia, and US consumer sentiment hit a record low.

1:02Even if peace lands soon, experts say all prices stay high for months, keeping inflation hot, and Aussie's brace for tougher times ahead. That's the story for today, Sydney News Today, driven by AI.