Australia’s supply of petrol, diesel and jet fuel has climbed above the levels recorded before the Iran war erupted in late February, Prime Minister Anthony Albanese says a development he credits to intensified efforts to stabilise national fuel security. Speaking on Saturday, Mr Albanese said demand had eased following a pre‑Easter surge, helping the country remain “steady” at level two under the national fuel security plan. Despite ongoing uncertainty in the Middle East, he said the nation’s reserves were now stronger than they were on February 28.
“What is absolutely remarkable is that today we have more diesel than we had on February 28th,” he said. “We have more petrol than we had on February 28th, and we have more jet fuel than we had on February 28th as well.” Key terms such as fuel security Australia and fuel excise cut may be useful for deeper follow‑up.
Pressed on whether the government would extend the temporary fuel excise cut introduced on April 1 and due to expire on July 1 the prime minister declined to give a clear answer. “We’ll make an assessment in the lead‑up to July 1st,” he said, before shifting focus to upcoming tax cuts.
The excise reduction halved the levy on petrol and diesel for three months, cutting pump prices by 26.3 cents per litre. The heavy vehicle road user charge was also suspended to help truck drivers absorb the global fuel shock. At the time, the government estimated the measures would cost taxpayers $2.55 billion.
Mr Albanese said the government’s priority had been ensuring supply, arguing that the strengthened reserves showed the strategy was working.
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