The Daily Aus Are we about to run out of petrol?
Mar 16, 2026
A deep dive into how a 33km waterway in the Middle East can ripple into Australian petrol supplies. How rising oil prices and disrupted shipping are already squeezing regional towns. The effects of relaxed fuel rules, government supply measures and rationing talk. Why remote communities are more vulnerable and how electric vehicle adoption could shift the long-term picture.
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Hormuz Closure Sent Global Oil Prices Soaring
- The Strait of Hormuz closure sent oil from about $67 to $105 a barrel, driving a nearly 50c/L rise at Australian pumps.
- The strait normally carries 20–25% of the world's oil and LNG, so disruptions immediately spike global and local prices.
Independent Distributor TransWest Reported Zero Supply
- TransWest Fuels told customers they would have zero access to fuel out of Brisbane and Newcastle from the next day.
- That disrupted 500 businesses and raised immediate concerns for farmers, transport operators and food distribution.
Australia Relies Heavily On Imported Refined Fuel
- Australia imports about 80% of its liquid fuels so supply depends on ships willing to deliver refined product.
- Cities get priority from major companies while regional areas rely on independent distributors with weaker supply security.