The ACCC has issued a please explain to major fuel companies after retail petrol prices increased by up to 49 cents per litre since the Iran war began, with retail rises outstripping wholesale increases by up to 18 cents per litre in some locations. Perth motorists are paying the highest prices at $2.22 per litre, while Hobart has the cheapest at $2.15. Energy Minister Chris Bowen is relaxing fuel storage requirements by 20% to release an additional 762 million litres of fuel to regional areas, while also warning against Australians hoarding and reselling jerry cans at inflated prices.

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