In brief
Climate Change and Energy Minister Chris Bowen announced that Australian diesel reserves now cover 34 days of use, up from 31 days a week earlier, while aviation fuel stocks reached 29 days. Bowen highlighted four tankers’ fire in the Strait of Hormuz and Campbell’s ongoing work to secure fuel through trading partners and domestic refineries.
CANBERRA—Minister Chris Bowen told reporters on Saturday that Australia had raised its diesel holdings to the equivalent of 34 days of consumption, a rise of three days from the figure released a week earlier. The move comes as global fuel markets face uncertainty and shipments encounter delays, notably in the strategic waterway of the Strait of Hormuz.
At a morning press conference, Bowen said the nation’s fuel supply remained solid and secure, even though incidents in the Strait of Hormuz—where four oil tankers reportedly caught fire and exploded—continued to raise concerns about the flow of energy goods to Australia.
“Our fuel supply remains solid and secure,” Bowen said, adding that the government had already secured 3.1 billion litres of fuel for the next four weeks, 100 million litres more than noted in the previous week’s update.
During the briefing, Bowen noted that 43 ships carrying fuel were en route to Australian ports. He also highlighted that aviation fuel stocks had climbed to 29 days, up one day from the prior week’s level. The aviation sector’s rise mirrors the broader strategy to protect essential energy sources for both road and air transport.
Bowen explained that the Australian government was actively working with domestic refineries to sustain production levels while also engaging with trading partners across Southeast Asia, the Middle East, and other regions to secure further supplies. The coordination with local and international stakeholders aims to mitigate the impact of disruptions in the Strait of Hormuz and maintain a steady flow of diesel into the country.
While the announcement came amid ongoing global supply chain challenges, the minister emphasized that the country’s defensive measures were keeping the market stable. He affirmed that Australia’s increased diesel stockpile positioned the nation to better absorb future shocks in fuel availability that could arise from geopolitical tensions or other logistical constraints.