Australia Boosts Fuel Supply, Prioritizes Regional Areas

0:00Here's more Sydney news from March 12th, Australia's energy minister has temporarily relaxed fuel quality standards for two months to boost domestic supply. This move will add 100 million liters of petrol each month by allowing higher sulfur fuel from ample's Brisbane refinery to be sold locally instead of exported. Overnight, the International Energy Agency agreed to release 400 million barrels of oil from member countries reserves, including A, yet to be determined amount from Australia. Current stock stand at 36 days of petrol, 29 days of jet fuel, and 32 days of diesel. Panic buying has doubled fuel demand in recent days, even as officials insist supplies remain strong and steady. Energy minister Chris Bowen urged people not to hoard, saying there is no need for alarm amid secure stocks. The extra fuel will prioritize regional and rural areas, especially farmers, fishers, and communities in Queensland facing shortages. Amphol has committed to directing it to those spots, and the spot market first.

1:04Meanwhile, the government is using its national coordination mechanism to work with industry and all levels of government on supply issues. Prime Minister Anthony Albanese emphasized fuel security measures while the opposition pushes for guarantees against any shortages. This story is made possible by our sponsor. When you want calm, do not reach for your phone. Lay back and listen. S-O-L-L-I-SOLY-PILO-DOT-COM