Anthony Albanese has again refused to say whether the fuel excise cut will extend beyond June 30, instead claiming the nation had more fuel supplies now than before the Iran war.
“Today we have more diesel than we had on February 28,” he said on Saturday.
“We had more petrol than we had in February 28, and we have more jet fuel than we had on February 28th as well.
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“That says something about the way that we’ve worked to make an enormous difference to supply here in Australia, which is the number-one issue that we have concentrated on.”
But families hoping reasonable fuel prices at the bowser will continue because of the 26.3¢-a-litre fuel excise cut, introduced in April, received no encouragement it will remain beyond June 30.
“Look, we’ll make an assessment in the lead up to July 1,” Mr Albanese said.
The Middle East conflict prompted a rethink on Australia’s fuel reserves. At one stage it only had enough supplies for 30 days.
To meet the challenge, in Western Australia the Cook Government stockpiled 12 million litres of fuel at various locations around the State for emergency distribution.
Nationally, the Albanese Government announced it would increase the minimum stock holdings for diesel and jet fuel to 50 days.
On Saturday, Federal Energy Minister Chris Bowen said Australia had 44 days worth of petrol.
“We have 36 days worth of diesel, which is one day more than last week, and four days more than at the end of February,” Mr Bowen said.
“And 35 days worth of jet fuel, which is six days more than last week, and six days more than when the crisis began.
“And, in fact, we have now more diesel and jet fuel than at any time since the minimum stock obligation became law in 2023.”
