Diesel prices double as Australia's fuel security draws scrutiny
Diesel prices have jumped about 130 per cent this year, raising fuel security concerns.
Diesel delivered to Australia's east coast cost US$191.64 per barrel in October, up from US$83.27 in January, about a 130 per cent rise. Energy Minister Chris Bowen said Australia holds 28 days of jet fuel, 33 days of diesel and 41 days of petrol.
Tom Woodlock, an Argus Media reporter, said those headline numbers don't reflect fuel available during a crisis. Australia depends heavily on imported refined fuels and usually keeps lower amounts than other wealthy nations.
Disruption to Asian refineries or shipping lanes could squeeze supplies.
- From US$83.27 to US$191.64 per barrel
- Diesel price increase
- 28 days
- Jet fuel reserves
- Tom Woodlock, Argus Media
- Expert source
Why it mattersFuel security supports transport, aviation and power generation. If supplies tighten unexpectedly, costs could jump or shortages could stop key services.
AustraliaAustralians may face rising petrol and diesel prices if global supply tensions continue, and energy-dependent industries face growing cost pressure.
Corroborated bythenightly.com.au
✓ Claims checked against the source. checked 3 h ago
Open this story in InSnip →
