Fuel crisis Australia: Anthony Albanese says hoarding fuel ‘not the Australian way’

Prime Minister Anthony Albanese has asked Australians to “act responsibly” and not hoard fuel, saying it “wasn’t the Australian way” as he announced new measures to secure more fuel for the country.

Speaking in Sydney, Mr Albanese said he would introduce new powers into the Federal Parliament which would see the government underwrite the cost of private companies securing additional fuel on the international market.

The Government will introduce amendments to the Export Finance and Insurance Corporation Act, formalising the Commonwealth’s ability to underwrite additional cargoes and other reserves as needed.

Export Finance Australia would be allowed to enter into contracts of insurance or indemnity, give guarantees, make loans or enter arrangements with private companies who sough to secure fuel from international markets.

Australia has a 39-day supply of petrol, 30 days of diesel and 30 days of jet fuel.

Even so, the Prime Minister said he was gobsmacked by reports that people were panic buying and purchasing far more fuel than they need.

“That’s not the Australian way,” he said.

“People need to take what they need and no more.

“We need to learn from the lessons of COVID.

“I don’t want things to be mandated.

“Common sense should apply.”