Australia's Fuel Crisis: Global Imports Surge

0:00Australian fuel suppliers are pulling out all stops, sourcing petrol and diesel from five continents to dodge looming shortages. Maritime data shows 55 ships loaded with crude oil and refined fuels either arriving this April or end route to ports nationwide, coming from. Spots like the United States, South America, and Africa. The push comes from Middle East chaos, choking the strait of Hormuz, cutting crude to Asian refineries that pump out 80% of Australia's liquid fuels. Those big Asian plants are now hunting their own diverse supplies too, which should help keep things steady down under. Energy Minister Chris Bowen says he's heartened by the surge in imports, calling it an extraordinary uptick in tankers from places like the US and Mexico. Companies such as Viva Energy and Amphol are locking in cargoes from far off sources, and Viva boasting solid flows into May for fuels and July crude. For their G-long refinery, still, the Asian spot market is tightening up, with refineries

1:03slowing output and China stocking up domestically. Experts warn of a lag effect hitting May exports, so the government stepping into underwrite spot buys through export finance Australia, especially for smaller players. Right now, 410 stations are out of diesel and 193 without petrol amid sky-high demand. Bowen urges no panic buying, fill up in the city if you're road tripping, as fresh supplies keep rolling in to ease the pressure. You've been listening to Sydney News today, AI-powered local news.