Global fuel prices face prolonged disruption due to ongoing conflict affecting the Strait of Hormuz, with Australian petrol averaging $2.30 per litre for unleaded and over $3 for diesel. Energy Minister Chris Bowen warns impacts will continue for months even after the strait reopens, as bombed gas fields and production facilities require up to five years to rebuild. State governments are cracking down on service stations, with New South Wales issuing 93 notices for pricing violations and Western Australia implementing $4,000 fines for non-compliance with daily price reporting.

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