Australia has secured fuel shipments ‘well into’ May, energy minister says

SYDNEY: Australia has secured shipments of fuel “well into” May and supply shortages have eased across the country’s service stations, Energy Minister Chris Bowen said on Monday.

“We have secured contracted, legally binding supply well into May,” Bowen told reporters during a press conference.

The government had previously indicated Australia had secured fuel imports until mid-April.

Bowen said the percentage of service stations in Australia without diesel was down to 3.4%, lower than it was on Saturday.

The government would continue to work with industry and trading partners to ensure fuel supply, Bowen said.

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“We’ve been very pleased with the response we’ve had from our Southeast Asian partners in particular, who recognise their role as reliable energy suppliers for Australia when it comes to our liquid fuels,” he said.

Bowen called for the Strait of Hormuz to be opened “as quickly as possible so the economic impact on Australia and the rest of the world can be minimised.”

Australia imports about 90% of its refined fuel, predominantly from Asian countries.

Since the outbreak of the Iran war, six fuel shipments to Australia have been cancelled, but they have been replaced with alternative supplies.

Australia has 39 days of petrol, 29 days of diesel and 29 days of jet fuel in reserve, Bowen separately told ABC Radio National Breakfast, a similar level to the start of the conflict.