Fuel Crisis Hits Australia with Panic Buying
The Australian government is striving to calm public panic amid surging fuel prices and shortages in several regions. Prime Minister Anthony Albanese, on Friday (27/3), emphasised efforts to ensure energy supply despite increasing pressure from the war in the Middle East.
A surge in demand triggered by panic buying has disrupted distribution. Reports indicate that truck drivers and civilians alike are struggling to obtain fuel. Businesses are also beginning to feel the impact of rising operational costs.
“The longer this war lasts, the greater the impact will be. However, we are continuously taking steps to protect the Australian public from the worst effects,” said PM Albanese, quoted by the BBC.
The government assesses that the shortages are not due to insufficient stock but rather to a surge in demand and distribution disruptions. Energy Minister Chris Bowen assured that fuel availability in the coming weeks will remain stable.
“In the next few weeks, supplies of petrol, diesel, and oil in Australia will remain the same, or even higher than normal conditions,” he said.
On the ground, the situation differs. In Cairns, Queensland, several petrol stations have run out of petrol, while diesel prices have surged by up to 85% compared to before the Iran conflict erupted. In the state of New South Wales, one in seven retailers has reportedly run out of at least one type of fuel.
The average retail petrol price now stands at 238 Australian cents per litre, a sharp increase from 171 cents four weeks ago. Meanwhile, diesel prices in Sydney have hit a record high of over 314 cents per litre.
According to the National Roads and Motorists Association (NRMA), the shortages are triggered by changes in consumer behaviour. Residents are reportedly buying fuel in large quantities and storing it as reserves.
“People are filling jerry cans and storing them in garages. Even transport companies are instructing drivers to refuel whenever the opportunity arises,” said NRMA spokesperson Peter Khoury.
Independent petrol stations are said to be the most affected, as they lack long-term supply contracts like major companies. This makes it difficult for them to obtain fuel distribution during demand surges.
The Australian government is scheduled to hold an emergency national cabinet meeting to respond to this situation. Several measures are planned, including the release of national oil reserves and relaxation of fuel standards. Options for distribution restrictions have not yet been imposed.