CANBERRA: Australia said its fuel supply remains stable despite outages at some service stations and sharply higher pump prices, with federal ministers and official stockholding data showing the country has about 38 days of petrol and around 30 days of diesel and jet fuel available nationwide. The government has said there are no plans to ration fuel, as authorities try to calm public concern over how much supply is left in reserve and whether recent shortages reflect a broader national problem.
The latest stockholding figures published by the federal government show industry held average stocks in the December quarter equivalent to 38 days of gasoline, 29 days of kerosene and 32 days of diesel at normal rates of consumption. Those numbers have been used by ministers to argue Australia is not facing a nationwide fuel outage, even as some stations in cities and regional areas have reported empty bowsers and motorists have faced rising prices at the pump across several states.
Australia imports about 90% of its fuel, leaving it exposed to disruptions in refining and shipping across Asia, and officials have said six scheduled shipments from Asian suppliers were canceled as supply pressure intensified. Two domestic refineries are still operating, but ministers and state leaders have said the immediate shortages seen at some outlets have also been driven by local distribution bottlenecks and panic buying, particularly in regional areas where fuel deliveries are less flexible and replacement stock can take longer to arrive.
Fuel reserve release
Canberra has moved to ease that pressure by authorizing the temporary release of part of the mandated domestic reserve. Under an instrument that took effect on March 17, the government allowed the release of up to 20% of the minimum stockholding obligation for petrol and diesel, equivalent to as much as 762 million litres, with the aim of pushing more fuel into the local market. The measure is designed to support availability in affected areas rather than change the broader national supply position, which ministers say remains sufficient.
The government has also temporarily eased fuel quality standards to permit higher sulfur levels in some petrol grades, a step officials said could add about 100 million litres a month of additional supply. On March 19, Canberra appointed Anthea Harris as Fuel Supply Taskforce Coordinator, with the new taskforce charged with improving coordination between the Commonwealth and the states and territories on fuel security, supply chain resilience and the movement of fuel into areas facing the greatest strain.
Global pressure on imports
International developments have added to the pressure on Australia’s import-dependent market. The International Energy Agency said member countries had agreed earlier this month to release 400 million barrels from strategic stockpiles, and its executive director said in Canberra on Monday that further releases could be considered if needed. He also said Australia’s roughly 30 days of diesel was a solid number, even as the wider oil shock linked to conflict in the Middle East continued to tighten supply conditions across the Asia-Pacific region.
For consumers, the key distinction remains the gap between national supply and local availability. The federal government has continued to urge motorists not to panic buy, saying the country still has weeks of fuel on hand and that the current issue stems from disrupted imports, higher replacement costs and uneven domestic distribution rather than exhausted national stocks. At the same time, cargoes from Europe and the United States are being redirected toward Asia as traders respond to tighter regional supply, underscoring how strongly Australia’s fuel security is tied to global trade flows and the speed of domestic delivery – By Content Syndication Services.