Australia has announced plans to establish a national fuel stockpile of one billion litres in a move aimed at strengthening energy security amid growing instability in the Middle East.
Prime Minister Anthony Albanese said the government-owned reserve would focus on building long-term supplies of diesel and aviation fuel to protect the country from potential disruptions in global energy markets.
He explained that safeguarding Australia from the impact of international crises remains the government’s top priority, adding that further details of the plan will be included in the upcoming national budget.
Energy Minister Chris Bowen noted that Australia is one of the few International Energy Agency members without a strategic fuel reserve, stressing that the government is now taking steps to better prepare for future global shocks.
He said the worsening international security environment has made it necessary to strengthen national preparedness, especially in the energy sector.
Australia’s decision comes amid concerns over global oil supply routes, particularly the Strait of Hormuz, a critical passage through which a significant portion of the world’s oil and gas is transported.
The country, which is geographically isolated and relies heavily on imported fuel, is especially vulnerable due to its limited number of domestic refineries.
Recent disruptions in shipping through the Strait of Hormuz—following heightened tensions and military activity in the Middle East—have raised alarm over global supply stability, prompting several countries to reassess their energy security strategies.
