Panic buying prompts PM to reassure Australians over fuel supply

BBC News - World Economic ImpactNews ReportEN 3 min read 100% complete March 27, 2026 at 07:32 AM

Part of Story

Albanese brings forward Singapore trip and speaks with China in bid to shore up petrol shipments to Australia

AI Summary

medium article 3 min

Panic buying in Australia, triggered by rising fuel prices and the Iran war, has led to shortages at hundreds of petrol stations nationwide. Prime Minister Anthony Albanese and Energy Minister Chris Bowen are reassuring the public that the country's overall fuel supply remains secure, attributing the shortages to increased demand and distribution issues, not a lack of supply. Fuel prices have risen sharply, with petrol reaching 238 Australian cents per liter and diesel hitting record highs. The government states that fuel supply will remain at normal levels for the next few weeks, despite the ongoing war. Reports indicate that motorists are filling jerry cans and transport companies are instructing drivers to purchase fuel whenever available, exacerbating the situation.

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Key Claims (5)

AI-Extracted

The average retail price of petrol reached 238 Australian cents ($1.64; £1.23) a litre as of Sunday.

statistic — Australian Institute of Petroleum100% confidence

Australia's fuel supply remains "secure".

quote — Anthony Albanese100% confidence

Hundreds of petrol stations across Australia have reported running out of at least one type of fuel this week.

factual — null100% confidence

Shortages are due to people changing their buying habits.

quote — NRMA spokesperson Peter Khoury90% confidence

For the next few weeks, Australia's supply of petrol and diesel and oil will be the same, if not higher, than it normally would be.

prediction — Energy Minister Chris Bowen80% confidence

Claims are automatically extracted and should be independently verified. Attribution indicates the stated source of the claim.

Key Entities & Roles

Key Player Opposition Context

Cairns ×240% Queensland 40% United States 50% Sydney ×250% New South Wales 50% Strait of Hormuz 60% Australian Institute of Petroleum 60% National Roads and Motorists' Association (NRMA) ×270% Chris Bowen 70% Iran ×280% Anthony Albanese ×290% Australia ×6100%

Keywords

fuel supply 90% panic buying 80% fuel shortages 80% petrol prices 70% diesel prices 70% iran war 60% petrol stations 50% distribution issues 50% supply and demand 50%