Australia's fuel reserves secure through August as prices fall

Australia's energy ministry says the country's fuel stocks are sufficient for almost three months, with 43 days of petrol, 36 days of diesel and 30 days of jet fuel on hand. About 3.5 billion litres of additional fuel have arrived in recent weeks and another 50 tankers are en route, bringing roughly 1.8 bn litres of diesel, 512 m litres of petrol, 468 m litres of jet fuel and 709 m litres of crude oil.

Petrol prices in Sydney, Melbourne and Brisbane have dropped to levels near those before the Iran‑related conflict, while diesel remains above pre‑conflict rates. The temporary 50 percent fuel excise cut, which reduced the tax on petrol and diesel by 26.3 cents per litre, is set to expire on 30 June. Energy Minister Chris Bowen said the government will continue to monitor the situation and act in Australians' best interests.