New penalties for fuel companies | ABC News Top Stories

Josephine Asher with the top stories...

US President Donald Trump insists negotiations with Iran about ending the war are happening 'right now'.

He also says Washington has received a very big present from Iran, ⁠worth a 'tremendous amount of money'.

Mr Trump is declining to say what it is, but says it's related to gas and oil.  

It comes as US media report the Pentagon is expected to deploy an additional three thousand troops to the Middle East.

The federal government has introduced new legislation to double penalties for petrol companies that it says rip off Australian motorists.

Under the proposed laws ..  fines for suppliers and service stations caught engaging in false or misleading conduct and cartel behaviour will rise to $100 million per offence.

The bill will be debated in the lower house tomorrow, with Labor calling on the Liberals and Nationals to back the legislation.

And Northern Territory authorities warn the Katherine River could hit major flood levels again by this afternoon ... as the town continues to feel the effects of ex-tropical cyclone Narelle.

The storm has now re-formed off WA's north and is expected to re-intensify to a category three before tracking south.

Emergency services are urging Katherine residents to stay alert and avoid driving in flood waters.

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