Australia boosts fuel reserves to three‑year high amid Gulf tensions

Australia has raised its strategic fuel stockpiles to a record 6.5 billion litres – enough for 46 days of petrol, 39 days of diesel and 34 days of jet fuel – the highest level since mandatory stock‑holding rules began three years ago. Prime Minister Anthony Albanese said 55 tankers are en route and another 3.2 billion litres are slated to arrive over the next four weeks as the conflict in the Strait of Hormuz and Red Sea threatens global oil shipments.

The government has kept fuel‑security level two, meaning no rationing or supply limits, and has urged motorists to purchase only the fuel they need. Pump prices remain stable, with national averages of about AU$1.76 per litre for unleaded 91 and AU$2.04 for diesel.