Source : Perth Now news
Prime Minister Anthony Albanese is expected to decide if Australia’s fuel excise will be extended beyond this month.
The fuel excise was introduced in April and is due to expire at the end of the month, but could be extended if the government agrees.
Following a deal between the US and Iran to end conflict in the Middle East, oil prices fell this week, easing concerns about global fuel supplies.
Prime Minister Anthony Albanese said he would make a decision over the coming days and urged people to respond in a responsible way.
“Just before Easter, we were seeing a spike in demand that was causing real pressure and shortages, particularly in some regional areas,” he said.
“We have run a campaign, every little bit helps, and Australians have done their bit to see Australia through what has been a global fuel crisis.”
The Prime Minister urged people to go about their normal business and avoid stockpiling fuel, confirming more than 50 million litres of diesel were on its way to Australia.
“My government has worked really hard to shield Australians from the worst impacts,” he said.
“We’ve said even though the conflict is on the other side of the world, and we were not protagonists, the impact has been felt right around the world, with an increase in fuel prices, the greatest the world has ever seen, and an impact, of course, on supply as well.
“We’ve worked really hard to ensure that Australia remains resilient, and that Australia remains prepared for this.”
Energy Minister Chris Bowen confirmed Australia currently had 44 days of petrol, 39 days worth of diesel and 32 days of jet fuel, making it the second highest stockpile in the nation since 2023.
He said 51 ships were on the way to Australia and 3.9 billion litres of fuel was contracted to be delivered over the next four weeks.
“That’s around 400 million litres more than my report last Saturday,” he said.
“It consists of 1.9 billion litres worth of diesel, 586 million litres worth of petrol, 423 million litres worth of jet fuel, and 948 million litres of crude oil.
“We’ve secured another 50 million litres of diesel through the EFA, which brings the total to just under 800 million litres.
“There continues to be uncertainty internationally, but that will continue to be the approach of the Albanese government, a calm approach,” he said.
“Working carefully with our trading partners, with the private sector, with all Australians to ensure the supply of fuel to Australia is as good as it possibly can be in these challenging international circumstances.”
