Prime Minister Anthony Albanese, alongside Energy Minister Chris Bowen, announced an increase in Australia’s fuel reserves since February 28, the day marked by a US and Israeli assault on Iran.
The current fuel supply includes 43 days’ worth of petrol, an increase of five days; 38 days of diesel, up by six days; and 31 days of jet fuel, which is two days more than before.
Albanese described the development as “good news for Australia” while cautioning about ongoing economic instability.
“Though this conflict is geographically distant, its effects are inevitably felt here. The longer it persists, the more prolonged its economic repercussions will be,” he stated after a virtual meeting with the National Cabinet.
“We are optimistic that the encouraging signs of de-escalation and peace in the region will culminate in a resolution beneficial to the global economy, which aligns with Australia’s interests,” Albanese added.
Energy Minister Bowen noted that 48 ships are currently en route to Australia, expected to deliver a total of 3.4 billion litres of fuel over the next four weeks.
