Why Australia could face fuel rationing within DAYS - and the 'bidding war' threatening to explode
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Australia's fuel security may unravel within weeks due to a global bidding war over dwindling supplies, potentially leading to fuel rationing and price hikes. The country's fuel imports are heavily reliant on Singapore, South Korea, and Japan, which may prioritize their own needs in the event of a shortage.
Australia's fuel security is at risk due to a global bidding war over dwindling supplies. The country's fuel imports rely heavily on Singapore, South Korea, and Japan. A defence expert warns that these countries may prioritize their own needs in the event of a shortage, leading to fuel rationing and price hikes in Australia. The government has received pledges from Japan, South Korea, and Singapore to continue fuel shipments, but at least six fuel shipments to Australia have already been cancelled or deferred. Australia's fuel reserves are equivalent to 39 days' worth of petrol, 29 days' worth of diesel, and 30 days' worth of other fuels. The government is seeking to shore up fuel supplies by leveraging Australia's gas exports.
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