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.
