Anthony Albanese, Australia’s prime minister, during an address at the National Press Club in Canberra, Australia, on Tuesday, June 10, 2025.
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Prime Minister Anthony Albanese on Thursday urgedĀ Australians toĀ avoidĀ panicĀ buyingĀ of petrol and diesel, which he said had led to shortages in some rural regions, and stressed the nation’sĀ fuelĀ supplyĀ levelsĀ remainedĀ stable.
AustraliaĀ is dependent on imports for about 90% of itsĀ fuelĀ needs, and fear ofĀ supplyĀ disruptions due to the escalatingĀ war in the Middle EastĀ has led to a doubling ofĀ fuelĀ demand in some regions resulting in localized shortages.
Albanese said the federal government had already taken steps to ensure an uninterruptedĀ supplyĀ ofĀ fuelĀ into the country.
“OurĀ fuelĀ supplyĀ is currently secure. However, I want us to be over-prepared,” Albanese told reporters.
“My message toĀ Australians is please do not take moreĀ fuelĀ than you need. That is how you can help. That’s theĀ Australian way,” he said, following a meeting with state and territory leaders.
Conflict in the Middle EastĀ intensifiedĀ on Wednesday, drivingĀ oil pricesĀ higher, as Iran accused Israel of striking its facilities in the South Pars gas field, the world’s biggest, and retaliated with attacks on oil and gas targets across the Gulf.
Albanese said his government would roll out additional measures in the coming days to safeguardĀ fuelĀ supplyĀ and appointed Anthea Harris, the former boss of theĀ Australian Energy Regulator, as head of a nationalĀ fuelĀ supplyĀ task force to tackle shortages and improve the domesticĀ fuelĀ supplyĀ chain.
The Reserve Bank ofĀ AustraliaĀ warned on Thursday the war was aĀ material riskĀ to theĀ Australian economy, though it said domestic banks remained well-positioned to support growth in the event of a significant downturn.
After widespread concerns among consumers overĀ fuelĀ pricing andĀ supplyĀ issues,Ā Australia’s competition regulator on Thursday began anĀ investigationĀ into allegations of anti-competitive conduct by majorĀ fuelĀ suppliers including Ampol, BP’sĀ Australian unit, Mobil OilĀ AustraliaĀ and Viva Energy, which operates Shell and LibertyĀ fuelĀ stations.
Neighboring New Zealand said it had asked officials to work on contingency plans for an eight-to-12-week response period to mitigate potentialĀ supplyĀ disruptions.
Prime Minister Christopher Luxon told reporters the country’sĀ fuelĀ supplyĀ remained adequate but warned even if the conflict eased soon that would not deliver immediate relief.
