Australia's Petrol Prices Soar to Record High

0:00Petrol prices across Australia have surged to a record high of $2.38 per liter for regular unleaded driven by looming, shortages from Asian refineries that provide 80 percent of the nation's fuel. These refineries face running dry by the end of April amid the ongoing Iran conflict disrupting oil supplies, prompting fuel importers, and the government to urgently secure alternatives from Europe, Asia, and the United States. Meanwhile, China has halted its diesel exports until late March, adding pressure, while ample, which operates thousands of service stations, warns of. Tightening supplies after mid-April if the crisis drags on. Energy Minister Chris Bowen notes, 81 shipments are still headed to Australia by mid-May, with just six cancel so far, though just in time. Delivery chains leave their status uncertain, and prices have jumped 27 percent since the war started on February 28. To ease the strain, Bowen has temporarily lowered diesel quality standards for six months, opening

1:03up more import options as experts eye-global. Stockpiles ramped up production from places like Canada and other workarounds to keep pumps flowing in the weeks ahead. Local news, powered by AI. This is Sydney News Today, I'm Corey with The Story.