AS IT HAPPENED: Anthony Albanese urges Australians not to panic buy fuel in national address; Trump says no reason for US to reopen Hormuz Strait, war to end within weeks; US journalist kidnapped in Iraq: Fuel excise cut begins

Thanks for following our coverage of the conflict in the Middle East.

As we wrap up, here is a recap of today's key developments:

• Prime Minister Anthony Albanese made a rare national address, promising to take steps to shield Australia in uncertain times.
• The WA government will enact emergency powers to force suppliers to be more transparent about their supply chains.
• Many service stations have cut their petrol prices significantly today after the fuel excise cut kicked in today.
• US President Donald Trump has said the US will be done with its war with Iran inside two to three weeks, and other countries will have to reopen the Strait of Hormuz.
• Iran's foreign minister said the country is prepared to fight for "at least six months".
• King Charles III said he will go ahead with a state visit to the United States next month.
• An Iranian drone hit a Kuwaiti oil tanker off the United Arab Emirates city of Dubai, sparking a blaze that was later put out.

Nine's Chief Political Editor Charles Croucher said the prime minister's address to the nation was more about "addressing whispers and rumours" than announcing any policy or principles.

"It is clear the government's approach is in complete contrast to COVID," Croucher said.

"Five years ago we'd all gather round to hear a premier tell us if we're allowed to leave the house.

"Tonight the Prime Minister attempted to lay out the challenge and what could be done, with no hint of saying 'this has to be done'.

"The fuel challenge is still immense and will last for months."

The Prime Minister ended his address with an encouraging message for Australians.

"We will deal with these global challenges the Australian way - working together and looking after each other as we always have," he said.

Albanese promised the government would do "everything we can" to protect Australia in these "uncertain times".

"The months ahead may not be easy, I want to be upfront about that," he said.

"No government can promise to eliminate the pressures that this war is causing."

The Prime Minister has also encouraged workers to consider public transport.

"Over the coming weeks if you can switch to catching the train or bus or tram to work, do so," he said.

"That builds our reserves and it saves fuel for people who have no choice but to drive."

Albanese has encouraged Australians to enjoy Easter and not panic-buy fuel.

"If you're hitting the road, don't take more fuel than you need, just fill up like you normally would," Albanese said.

Albanese has elaborated on how the country will get more fuel to our shores.

"We are working to keep the price down, to make more fuel here, to keep it on shore and get more fuel here using our strong trading relationships with our region to bring more petrol, diesel and fertiliser to Australia," he said.

Albanese has detailed the steps the government has taken so far to shield the country from global uncertainty.

"On Monday, the national cabinet adopted the national fuel security plan," he said.

"Leaders from both sides of politics from right around the country working together to keep Australia moving, making sure that we're prepared, so that if the global situation gets worse and our fuel supplies are seriously disrupted over the long term, we can coordinate the next steps together.

"Today, we cut the fuel excise in half, cutting the tax on every litre of petrol by 26 cents.

"Those savings have started showing up at your petrol station.

"For our truckies, we've cut the heavy vehicle road user charge to zero.

"Both these measures will be in place for the next three months."

Prime Minister Anthony Albanese is making a rare national address as the ongoing conflict in the Middle East continues.

As he opened, he acknowledged the fuel crisis and its impact on Australians.

"My fellow Australians, by nature, we're an optimistic country but I understand that right now it's hard to be positive," he said.

"The war in the Middle East has caused the biggest spike in petrol and diesel prices in history.

"Australia is not an active participant in this war but all Australians are paying higher prices because of it.

"I know that you're seeing this at the servo and at the supermarket.

"I understand farmers and truckies, small businesses and families are doing it tough.

"The reality is the economic shocks caused by this war will be with us for months."

Prime Minister Anthony Albanese is speaking now.

You can watch it in the player above.