Azernews.Az

By Alimat Aliyeva

Australian authorities have urged citizens to remain calm amid rising fuel prices and to avoid panic buying of gasoline, AzerNEWS reports.

“We continue to receive fuel supplies, and our refineries are increasing production of gasoline and diesel to cover the shortfall caused by the recent surge in demand,” said Chris Bowen after a meeting with oil industry representatives. “These measures will take time to have an effect, but if Australians refrain from panic buying, the situation will stabilize much faster.”

The minister acknowledged that public concerns about potential shortages are understandable but emphasized that stockpiling fuel only worsens the problem by disrupting local supply chains. According to him, the government has already taken steps to boost fuel deliveries to regions experiencing temporary shortages.

Deputy Prime Minister Richard Marles added that around 20% of the country’s strategic fuel reserves have already been released to the domestic market. “Approximately 716 million additional liters of fuel will be supplied from reserves stored in Australia. This is a significant volume, and there is no need for panic—people should continue their daily routines as normal,” he said.

The current fuel shortage has been driven largely by a sharp increase in global oil prices linked to ongoing tensions in the Middle East. While overall supply to Australia has not been significantly disrupted, panic buying has led to localized shortages and empty fuel stations in some areas.

Authorities have not ruled out introducing fuel rationing if the crisis persists, but for now, such measures are not being implemented.

According to the Australian Department of Energy, the country relies heavily on imports, with more than 90% of gasoline and diesel sourced from overseas. Australia imports around 900,000 barrels of refined petroleum products per day (roughly 140 million liters), primarily from countries such as South Korea, Singapore, Malaysia, India, and Japan. Domestic production of oil and condensate remains relatively limited at about 350,000 barrels per day.

Strategic fuel reserves are estimated to cover between 32 and 36 days of consumption. This dependence is particularly critical given that more than 75% of Australia’s domestic freight transport relies on road networks. Interestingly, experts note that this situation has renewed discussions about energy security and the transition to alternative fuels, including electric transport and hydrogen, as a way to reduce reliance on imported oil in the long term.