The government is set to introduce new measures on Monday, enabling the use of public funds to support the private sector in acquiring fuel. This initiative is part of a broader strategy to secure essential resources.
The Prime Minister announced that the plan would also facilitate the procurement of fertilizers and other critical supplies, aiming to bolster the nation’s resilience.
“Our goal is to cultivate the strongest possible infrastructure, ensuring readiness for any potential challenges. We aim to keep our citizens, economy, and country thriving,” he stated.
He elaborated, “We will leverage Export Finance Australia to back the purchase of significant quantities of fuel, enhancing supply within Australia.”
“This government support signifies a departure from standard practices,” he emphasized.
“It’s imperative that these supplies are additional and sourced from the international market. Our approach involves directly underwriting the acquisition of these fuel shipments to ensure they reach Australia,” he concluded.
The prime minister said the measures are being enacted to keep Australia prepared and ensure fuel “gets to the right places”.
“People need to take what they need and no more,” he said.
“I don’t want things to be mandated, common sense should apply as well.”
“This isn’t toilet paper that’s been piled up in some garages. It’s actually fuel.
“That’s not sensible on a range of levels. One, it’s not doing the right thing by your fellow Australians. But importantly, as well, it can be dangerous.”
“[Demand] remains exceedingly high, and this supply is still not enough, but we are increasing supply and working in a very complicated supply chain to get the fuel to where it needs to go.”
“The fact of the matter is, cargo internationally available, but is getting increasingly expensive and increasingly risky in a volatile environment.”
Bowen said Australia currently has 1.6 billion litres of petrol, which roughly equates to nine days’ worth, which is up “very slightly”.
He also said the nation has 2.7 billion litres of diesel, which is approximately one month’s worth, and is “pretty flat”.
“What that tells me is that while the fuel is flowing strongly out the door, especially to regional Australia.”
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