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Stewards, who also gave the Australian two
penalty points, said the breach occurred during the day's second
practice session at Albert Park.
Ricciardo had admitted an error in reading his dashboard
display, they added.
"The Stewards thoroughly reviewed the breach and found that the
driver slowed significantly, such that no danger was created,
and that the driver proceeded with due care," stewards said in a
statement.
"The Stewards therefore are imposing a lesser penalty than
usual, and impose a three grid place penalty and two penalty
points."
No Australian has ever won his home Grand Prix but Ricciardo was
seen as a contender this season, with Red Bull looking fast in
testing.
In 2014, he finished second in his debut race for Red Bull but
was disqualified soon after for a mechanical infringement that
was no fault of his own.
He just missed out on a maiden podium for a home driver in 2016
when he finished fourth, while last year he crashed in
qualifying, started from the pitlane and then retired midway
through the race.
"It has to be more fun (this year)," he had said on Thursday.
(Reporting by Alan Baldwin in London; Editing by John O'Brien)
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