Prime Minister Anthony Albanese has warned not only retailers who are charging fuel prices that are too high, but also Australians who are buying more of it than they need because of fears of fuel shortages due to the conflict in the Middle East.
“My message to Australians is also don’t take on more fuel than you need. Here’s how you can help,” he said during a Doorstop interview in Burnie, Tasmania.
“Think of others. Be a good neighbour, a good community member and a good Australian. That’s not the Australian way… Just take what you need, be sensible. In some places there has been a doubling of demand. That shouldn’t be happening.”
“We may have fuel security here in this country, but we have to be sensible about these issues.”
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Mr Albanese also warned Australians are both panicking about buying excess fuel and storing it in unsafe ways after anecdotal evidence emerged on social media showing at least some petrol stations had run out of diesel.
The Prime Minister said there had been no disruption in fuel supplies to the country.
“The fuel is arriving as expected at this point. We continue to monitor everything that is going on in global markets, but we continue to see ships arriving as planned,” he said, but did not answer how long the government can guarantee it will continue to arrive.
“Of course we are preparing for all contingencies and will continue to do so,” he said.
“Australia remains well positioned because of the measures taken and the role of the ACCC. Fuel reserves are the largest in 15 years. The fact that we have a secure supply of diesel from Korea, for example, which has caused great concern in regional areas and we have also spoken to our Korean friends about ensuring that supply continues to be guaranteed.”
Accordingly SBSAs of March 14, 2026, Australia has a 29 day supply of petrol and a 26 day supply of diesel. The Australian Competition and Consumer Commission (ACCC) has warned that fuel retailers have increased prices much earlier than expected and there are reports Australians are stockpiling fuel.
The Prime Minister says the consumer watchdog will take action against inappropriate behavior by fuel retailers. It is planned to increase the maximum penalties for relevant breaches of the Australian Consumer Law and the Competition and Consumer Act from $50 million to $100 million.
As part of the minimum stock requirement, fuel importers are obliged to maintain initial stocks of petrol for 27 days and of diesel for 32 days. For refineries, these numbers drop to 24 and 20 days, respectively.
This month the Australian government released 20 percent of the national fuel stockpile – or 760 million liters – and prioritized delivery to regional areas.
The government also announced that fuel will have higher sulfur content over the next 60 days, representing a temporary reversal of recently introduced changes to our fuel quality.
Climate Change and Energy Minister Chris Bowen said this would allow about 100 million liters a month to be injected into Australia’s domestic supply – fuel that would otherwise have been exported.
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