Pain at the pump
A slightly bemusing anecdote for you.
Popped into the servo this morning, and noted diesel prices had blazed to fresh all-time highs at an astonishing 329.9 cents per litre...
In the 15 minutes it took me to inhale a medium long black and a Krispy Kreme donut the diesel price was increased - not once - but twice to 335.9 cents per litre.
We often get the creeping sense that prices are sneaking quietly higher - we see it in the $7 coffee or the $24.95 breakfast.
But at the moment we can literally see prices rising before our eyes and in real time.
The government announced that fuel excise will be halved effective from tomorrow until the end of the financial year - a period of 3 months.
This is expected to cut 26.3 cents per litre from the price of fuel, but at the current rate of progress that'll be absorbed pretty quickly (this wasn't a popular move with economists, but it may make some voters a bit happier).
That would equate to a saving of about 13 bucks from a 50-litre tank of fuel, but of course prices could easily rise much further from here.
While not remotely pretending to be an expert in the space, from chatting to industry specialists it sounds like there is to be no 'quick fix' to the oil shortage challenge, given the damage incurred to infrastructure, the complexity of modern day supply chains, and the already depleted level of reserves in Australia.
Unsurprisingly ANZ's consumer sentiment index saw a huge spike in inflation expectations, and consumer sentiment nosedived to the lowest level the history of the survey...which dates back to 1972.
Australia's 3-year bond yield was a little lower today at 4.66 per cent, down from 4.83 per cent back on March 23, as investors shifted their focus from inflation to recession risks.
Housing credit peak
Credit growth was 0.6 per cent in February 2026, according to the RBA's financial aggregates data, rising to 7.8 per cent over the year.
Although investor credit growth rose to 9.2 per cent over the year, the monthly pace of increase peaked back in December, and has slowed in the face of rising mortgage rates.
Total housing credit growth was 7.1 per cent over the year to February, up from 5.7 per cent a year earlier.
The housing credit impulse also peaked back in December, suggesting that we'll be seeing a housing market slowdown in Sydney and Melbourne, and less punchy price growth in Perth, Brisbane, and Adelaide as 2026 progresses and as mortgage rates rise.
Westpac now predicts that the cash rate target will peak at a cycle-high of 4.85 per cent before coming back down next year.
In the meantime there have been many stories about cancelled housing projects in the face of steepling costs, suggesting that rental vacancy rates could hit all-time lows by 2027.
---
In other news junior pay rates are to be abolished, meaning a pay rise of up to 42 per cent for more than 500,000 young workers, to be phased in over four years.
---
1. Download our property buying guide
Download our free property buying guide here.
You can also check out a few of our recent property purchases here.
Get in contact with us today if strategic property investment is your thing.
2. Subscribe to our Top 10 Podcasts for Investors
Listen in to our podcasts
The Australian Property Podcast is rapidly becoming one of Australia's biggest business podcasts, now with over 50,000 audio downloads per month, and growing fast.
And our popular Low Rates High Returns Show also remains available on Spotify.
3. Subscribe for my free daily blog
Subscribe for my free daily blog with over 4.6 million hits here.
You can also catch up with me daily on Twitter here, where I'm far too active daily and have over 16,500 followers.
By the way, I'm an 8-times published author on finance, investing, and business, so you can check out some of my books here.
My new book, co-authored with Cate Bakos is available to buy here or on Amazon here - check out our free Buy Right podcast series here.
4. Work with me privately
For a limited time you can book in a free diagnosis call with me here, so book in a call today.
