Australia Braces for $120 Oil, Diesel at $3/L
Brisbane News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
Australias government is grappling with soaring oil prices, with diesel surpassing three dollars a liter in major cities. Energy Minister Chris Bowen confirms fuel stocks remain unchanged since conflict escalated between the US, Israel, and Iran. Prime Minister Anthony Albanese has convened another national cabinet meeting to ensure petrol supplies amid rising demand. Officials have released a strategic fuel reserve, targeting regional areas with the most severe shortages. Diesel prices have skyrocketed, with Canberra, Sydney, and Melbourne averaging three dollars ten cents, three dollars seven cents, and three dollars four cents per liter, respectively. The government is considering expanding ethanol mandates nationwide and has secured additional oil shipments to maintain steady fuel supply until international tensions subside.
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