‘Vicious cycle’: panic buying is biggest risk to Australia’s petrol supplies, experts say

Amid escalating Middle East tensions, experts say panic buying poses the biggest threat to Australia's petrol supplies. Despite government and motoring groups assuring the public there is no fuel shortage, excessive stockpiling has emptied service stations, particularly in regional areas like the Barossa and Mildura, where demand has doubled or tripled. The Energy Minister, Chris Bowen, has urged Australians to remain calm and avoid panic buying. This comes as a leading motoring group warns of a "vicious cycle" of motorists stockpiling petrol due to fears of rising oil prices sparked by the conflict involving Iran. The situation highlights the vulnerability of fuel distribution networks to consumer behavior, even without an actual supply deficit.