Australian Gasoline Prices Fall for First Time Since Iran War

The cost of gasoline fell from record levels in Australia, as government measures helped ease some of the pain at the pump caused by the war in the Middle East.

The national average petrol price fell by more than 5% to A$2.40 ($1.66) a liter in the week to Sunday, the first decline since the first week of February but still about a third higher than at the start of March, according to data from the Australian Institute of Petroleum. Diesel rose less than 1% to A$3.13, the highest in records since 2006, but a slowdown on recent increases.