Share and Follow
Prime Minister Anthony Albanese is heading to Singapore with the aim of strengthening Australia’s fuel security, leveraging the nation’s status as a major agricultural exporter.
The federal government maintains that there is currently no threat to fuel supply. However, New South Wales is already taking precautions for a potential “worst-case scenario,” as supply chain experts caution that fuel rationing could be imminent within days.
In response to these concerns, petrol companies have been compelled to share their distribution data with the New South Wales government. This information is critical for making informed decisions should the situation worsen.
Currently, 34 petrol stations have completely run dry, and an additional 125 stations are experiencing shortages of at least one type of fuel.
NSW Energy Minister Penny Sharpe is closely examining sensitive commercial data from petrol companies to map out the state’s fuel distribution and determine where supplies are being allocated.
“The NSW government is planning for the worst case scenario and if we have to take action we will,” she said.
“We’re planning for if the situation deteriorates.”
If it does deteriorate, rationing could come quickly, experts warn.
“We’re not talking about months, we’re talking about a few days,” Sydney University Professor Ben Fahimnia told 9News.
“We’re already seeing the early symptoms of rationing, it’s just not officially declared.”
‘More important than ever’
In an effort to sure up Australia’s supplies, Albanese will head to Singapore, seeking to use the nation’s exports to ride a global crisis.
“The certainty of those clear, close relationships is more important than ever,” Albanese said.
Heading to Asia on Thursday, Albanese will meet with his Singaporean counterpart on Friday, leveraging Australian gas for their oil-based fuel to help get us through the global crisis.
“Australia’s a very reliable supplier and it’s a very reliable customer,” supply chain expert David Leaney told 9News.
The battle for energy is matched by the battle for food with Australian farmers sending about 80 per cent of what they produce overseas.
But they are susceptible to supply chain disruptions, currently hit by a lack of diesel for machinery and imported fertiliser, which farmers rely heavily on to boost yields.
“There will clearly be impacts on production and volumes of production and that means we have to think carefully about what happens to that product,” food security expert Andrew Henderson told 9News.
Indonesia, which takes a lot of Australian beef, grain and fresh produce have given Australia quiet assurances it will keep sending fertiliser down under.
“We have been relying around 60 per cent of our urea comes through the Middle East,” Agriculture Minister Julie Collins said.
“So this is about securing supplies elsewhere across the globe.”
Rise in e-vehicles and e-bikes
Fuelled by panic-buying at the pump, higher petrol prices are driving a trend towards plug-ins, with EV sales in March double what they were a year ago.
E-bikes are also increasingly popular.
“We’ve probably seen a four to five-[time] increase in inquiries [and] sales have definitely gone up,” Joshua Lepore from Sydney E-Bikes told 9News.
NEVER MISS A STORY: Get your breaking news and exclusive stories first by following us across all platforms.