Australia's Fuel Supply Stable Amid Iran Blockade

0:00Australia's fuel supply is holding steady right now, even with the heat from Iran's blockade in the Strait of Hormuz, cutting off Persian Gulf oil. Energy Minister Chris Bowen says there's no need to ramp up the National Fuel Security Plan beyond where we are. We're in stage two of the four-stage plan where the governments tapped into stockpiles to curb panic buying and lined up extra imports from big. Players like Biva Energy and Ampoule. Most payers are backing any losses if oil prices swing wild. Shortages have hit a few spots around the country. Panic buying and industrial stockpiling are the culprits, but numbers are dropping fast. In New South Wales, Friday saw 97 stations out of diesel from 2,400, down from 112 the day before. Victoria and Queensland saw similar dips too. Prime Minister Anthony Albanese is in Singapore today, linking up with leaders and fuel bosses to lock-in long-term supplies. Asian refineries, which feed us most of our petrol and diesel, are low on Middle East

1:02crude, but hunting alternatives from the U.S., Canada, and Brazil. Bowen's stresses were miles from rationing or carpool pleas. Supply interruptions haven't hit yet, but contingency plans stay sharp for emergency. Services first. I'm Corey with the story. That's your Sydney News Today update. AI powered and always on.