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Minister maintains Australia well prepared to withstand oil turmoil

Catherine King, the minister for infrastructure, maintained Australia is well prepared to withstand the turmoil in the Middle East, which has affected petrol prices across the globe.

King said Australia currently has 37 days of petrol, 30 days of diesel and 29 days of jet fuel in reserve as part of its minimum stock obligation.

King told RN Breakfast:

double quotation markWe’re obviously well placed. We’ve been conscious for a long period of time that fuel security is a significant issue for Australia, given how reliant we are on overseas markets. And the volatility of the global world has obviously had our attention for some time in relation to this. It’s why we introduced the minimum stock holding obligation.

Photograph: Jay Kogler/AAP



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