Federal government says Australia's fuel supply is 'solid and secure' as prices climb again
Australian Energy Minister Chris Bowen has reassured the public that the nation's fuel supply remains secure despite rising oil prices caused by Middle East tensions. Prices have exceeded $100 per barrel following threats of military action between the US and Iran.
Why it matters
Global geopolitical instability is directly impacting domestic energy costs and consumer confidence in Australia.
Energy minister Chris Bowen says Australia currently has more fuel in store than when the conflict in the Middle East began. ( ABC News )
The federal government is moving to reassure motorists about Australia's fuel supply as the conflict between the United States and Iran re-escalates once again.
Oil prices tipped over $US100 ($143) a barrel this week for the first time since May, with the national average unleaded 91 price at $1.88 per litre on Saturday and diesel at $2.30.
The fuel excise discount is due to expire on August 2, having been halved this month to 16 cents per litre.
Link copied Share Share article The federal government is moving to reassure motorists about Australia's fuel supply as petrol prices rise amid renewed clashes in the five-month-old war in the Middle East.
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