HUNDREDS of service stations have run out of petrol as global energy expert admits: 'Worse than 1970s'

 

 

 

Australia is facing a worsening fuel crisis after the US-Israel war with Iran disrupted global oil shipments through the Strait of Hormuz. 

 

Energy Minister Chris Bowen has revealed close to two hundred service stations across Australia have run dry of fuel, after the Opposition pressed him for exact figures during Question Time on Monday.

 

Bowen told Parliament that New South Wales had been hit the least. 'In New South Wales at the moment, 37 out of a total of 2444 service stations,' he said.

 

Queensland's shortages were more severe. 'In Queensland, it's 47 outlets with no diesel, 32 with no regular unleaded, out of just over 1800 service stations.'

 

 He said Victoria reported widespread outages late last week. 'Victoria last week had 109 outlets with no fuel,' he said, noting that 'today is around 50 stations' out of diesel.

 

That means at least 193 service stations have been without petrol. Bowen admitted he had no confirmed figures for stations that had run out in Western Australia, the Northern Territory, South Australia or Tasmania.

 

 However, he said he had been providing updates directly to WA Coalition MPs as the west continued to grapple with some of the steepest spikes in fuel prices.

 

'I am pleased to say, and I've been speaking to some Western Australian members opposite about this, that we are seeing more fuel flow in Western Australia and the numbers come down.'

 

Bowen will meet Tasmanian Energy Minister Nick Duigan later today as part of a government fuel roundtable aimed at addressing ongoing supply concerns.

 

Strait of Hormuz needs to open to reduce pain on Australian economy

 

 International Energy Agency (IEA) chief Dr Fatih Birol told the National Press Club in Canberra that reopening the Strait of Hormuz immediately was the single most important step to resolving the petrol price crisis.

 

'I am, on a daily basis, in contact with colleagues in North America and in the Middle East, Saudi Arabia and others. We will look at the markets, if it is necessary of course we will do it but we will look at the conditions, we will analyse, assess the markets discuss with our member countries.

 

'Again our stock release will … help to comfort the markets, but this not deep solution. It will only help to reduce the pain on the economies.

 

'While Mr Birol would not be drawn on US President Donald Trump’s threat to strike Iranian power plants if the Strait of Hormuz was not reopened in 48 hours, he said the reopening of the critical oil shipping route was the single most important measure to ease pressure on global oil markets.

 

'Now we have recently released some demand side measures, but what we are doing is to be very frank, to reduce the pain on the economy. The single most important solution to this problem is opening open the Hormuz strait now,' he said.

 

Dr Birol also warned Asia-Pacific countries, including Australia, were at the forefront of the crisis due to heavy reliance on fuel imports that pass through the strategic shipping route.

 

Australia currently holds roughly 30 days of diesel and jet fuel reserves and about 38 days of petrol, well below the IEA’s recommended minimum of 90 days.

 

He said that even if the war ended immediately, recovery would take time, and that at least 40 major energy assets across nine countries have already been severely damaged.

 

He said Australia's stockpile is strong for a developed economy with steady shipments on the way.

 

'I think 30 days is a solid number, and I know more ships will continue sailing through to bring diesel and other fuel products to market.'

 

On Friday, the International Energy Agency suggested Australians should work from home where possible and drive at slower speeds to limit oil demand during the Middle East conflict.

 

'There is nothing wrong with adopting some of the demand-side measures we suggested on Friday. These steps can help reduce the financial burden on households and better prepare countries for potential disruptions. I am not yet terribly worried, as some of the coverage suggests.'

 

Birol confirmed he plans to raise the work‑from‑home option with senior Australian leaders today.

 

'I will, of course, discuss this morning with my colleague and friend Chris Bowen. I will discuss this afternoon with the Prime Minister,' he said.

 

'I will share with them - again - it is up to them to pick it up or not.

 

War exposes the truth about the oil beneath our feet in Australia

An urgent warning has been issued to Australians.

   

 

 

 

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