The Albanese government is leaving the door open to further extending the fuel excise discount as fighting between the US and Iran again spikes global oil prices.

According to the International Energy Agency's latest monthly report, refining margins surged to four-year highs in early July as product markets tightened even while crude prices…

Surging crude prices spark worries over fuel costs and delayed rate cuts

Oil prices climbed to their highest level in four weeks on Tuesday after the United States reinstated a naval blockade on Iran and intensified military strikes, while Tehran…