Australia has 28 days of fuel, instead of the 90 we are committed to internationally — the sole reprobate! By Burney Wong at The Daily Mail.
Australia is facing critically low fuel reserves, raising fears petrol prices could surge amid escalating conflict between the United States and Iran.
The International Energy Agency recommends countries maintain at least 90 days’ worth of fuel stockpiles, but Australia is reported to have just 28 days of reserves remaining.
Under the IEA’s International Energy Programme (IEP), member countries are required to hold emergency oil stocks equivalent to at least 90 days of net oil imports to ensure energy security during global supply disruptions.
However, Australia has been non-compliant with this obligation since 2012.
Australia remains the only IEA member state consistently failing to meet the 90-day stockholding requirement.