Advertisement
As the world continues to assess the impact and implications of a protracted closure of the Strait of Hormuz amid the ongoing war in the Middle East, Australia is facing major challenges to its fuel security.
According to the latest snapshot provided by Federal Energy Minister Chris Bowen, Australia possesses stocks worth 36 days of petrol, 32 days of diesel and 29 days of jet fuel.
As an importer of approximately 90% of the nation’s fuel supplies, Australia is uniquely vulnerable to an interruption in fuel imports, with the smallest oil and fuel stockpile among the International Energy Agency’s members.
The full text of this article is available to MacroBusiness subscribers
Cancel at any time through our billing provider, Stripe
About the author
Tarric is an Australian freelance journalist and independent analyst who covers economics, finance, and geopolitics. Tarric is the author of the Avid Commentator Report. His works have appeared in The Washington DC Examiner, The Spectator, The Sydney Morning Herald, News.com.au, among other places.