Australia has plenty of diesel for now. But running out could upend our economy
It’s been hard to ignore growing fears of a looming fuel shortage in Australia. Conflict in the Middle East has led to what the International Energy Agency has called the “largest supply disruption in the history of the global oil market”.
The federal government has been at pains to reassure the public Australia’s fuel supply is secure until mid-April. Tankers carrying diesel, petrol and jet fuel are already heading here from places such as India, Malaysia, Singapore and South Korea. In the short term, supplies look steady.
However, there’s one fuel where Australia is particularly exposed: diesel. Our whole economy depends on it. Trucks that move our food and goods around, machinery used in farming and mining, and even backup generators all rely on diesel.
And because most of it is imported and takes weeks to arrive, even a small disruption could cause serious problems. Recent price spikes are a sign of how sensitive the system is. Hundreds of service stations around Australia have reportedly run out of fuel due to soaring demand.
This is where our diesel goes now, why switching off supply would cause major problems – and some of the hard choices we could face as a country if things get worse.
Keeping things moving
Diesel is a crucial fuel for a wide range of industries. One of the most........
