‘Hoarding has stopped’: Albanese reveals fuel levels
As the Prime Minister meets state and territory leaders over the ongoing fuel crisis, drivers have almost a week more petrol and diesel in reserve than they had at the start of the Iran war.
Anthony Albanese met virtually with national cabinet chief ministers and chief ministers on Monday to confirm Australia’s fuel supplies remain secure until July.
There are 43 days worth of oil in national reserves; This is five days more than the stockpile at the end of February, when the war began.
The latest figures also revealed that there were 38 days of diesel fuel reserves, six more than at the start of the war, and 31 days of jet fuel reserves, an increase of two.
“There’s a headwind here too, but it was a positive meeting and supply looks secure until July,” Mr Albanese told reporters in Canberra.
“Fuel hoarding is over. People only buy what they need, which means it’s making a difference, especially for industries that are reliant on diesel.”
Energy Minister Chris Bowen confirmed 48 cargo ships carrying fuel are on their way to Australia and 3.4 billion liters of fuel will be delivered over the next month.
1.8 billion liters of this will be diesel.
Despite a fragile ceasefire, US President Donald Trump has told officials not to rush into a deal to end the war with Iran.
The blockade in the Strait of Hormuz, through which one fifth of the world’s oil passes, continues.
Mr Albanese said he wanted a solution to the crisis.
“We are very hopeful that the positive signs of reduced tensions and peace in the region will lead to an outcome that will benefit the global economy and therefore Australia,” he said.
“But we know these are volatile and uncertain times, and I want to be clear that when the conflict ends, that does not mean the economic tail ends.”
Australia’s Associated Press is the beating heart of Australian news. AAP is Australia’s only independent national news channel and has been providing accurate, reliable and fast-paced news content to the media industry, government and corporate sector for 85 years. We inform Australia.
