Gas cartel declares war on Australia

David Llewellyn-Smith

Tuesday 31 March 2026

The local gas price is still holding far below the Asian price, but it is now threatening to rise above $10Gj.

The Asian price is still hovering around triple that at $30Gj.

Today, the cartel makes its message crystal clear to Australia. ‘Tax us and you will pay‘.

The full text of this article is available to MacroBusiness subscribers

$1 for your first month, then:

$24.99 / month

$249 / year

Cancel at any time through our billing provider, Stripe

About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.