Albanese announces billions of litres of fuel for Australia’s energy security
- 11 hours ago
- 1 min read
Australia's fuel reserves have climbed to their highest level on record, providing stronger energy security as global tensions continue.
Prime Minister Anthony Albanese said 55 fuel shipments, carrying 3.2 billion litres, are scheduled to arrive over the next four weeks. Australia now holds around 6.5 billion litres of fuel across all fuel types more than before the recent Middle East conflict began.
The government says current fuel reserves include approximately:
46 days of petrol
39 days of diesel
34 days of jet fuel
Despite the improved supply, the Prime Minister warned the situation remains uncertain as the conflict involving the US and Iran continues. Australians are being encouraged to buy only the fuel they need to help maintain stable supplies.
The disruption began after tensions in the Middle East affected global oil shipments through the Strait of Hormuz, creating supply concerns and pushing up fuel prices worldwide.
In response, the Federal Government introduced several measures to strengthen fuel security, including expanding fuel stockpiles, temporarily reducing fuel excise, easing some fuel regulations and supporting additional fuel imports.
Fuel markets remain volatile. This week, global oil prices recorded their biggest single-day rise since 2020 after renewed US action against Iran, highlighting ongoing uncertainty in international energy markets.
Motorists are also being reminded that the temporary fuel tax discount is scheduled to end soon, with the fuel excise set to return to 52.6 cents per litre.
Source : News.com
Stay tuned with Aus News Lanka – the leading platform for news for Australians.
