Radio National Breakfast Can the Government ensure petrol doesn't run out around the country?
Mar 9, 2026
Chris Bowen, Australia's Minister for Energy and Climate Change, offers concise government perspective on national fuel supply and policy. He discusses the G7's caution over releasing strategic oil stocks. He explains domestic reserve rules and urges against panic buying. The conversation touches on how global oil price shocks feed into inflation concerns.
AI Snips
Chapters
Transcript
Episode notes
Strategic Stock Releases Are A High-Stakes Tool
- Releasing strategic oil stocks is an uncommon, complex measure that governments use cautiously because it can influence petrol prices across member countries.
- Bowen frames G7 reluctance to act as understandable given the mechanism's rarity and significance.
Avoid Panic Buying Fuel
- Avoid panic buying because it worsens supply distribution and creates local shortages.
- Chris Bowen says there is no current supply interruption and urges Australians not to run to Bunnings for jerrycans as extra buying makes the situation worse.
Australia's Current Fuel Supply Is Intact
- Australia currently has robust supply levels with specific stockpile figures: 32 days of diesel and 3 billion litres in reserve in addition to station stocks.
- Bowen says no shiploads of diesel, petrol, or jet fuel to Australia have been interrupted and arrivals remain on schedule.