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Fuel panic buying 'causing system to break down', experts warn
Experts say Australia needs to start preparing for the possibility the war in the Middle East will not be resolved quickly. (ABC News: Jacqueline Lynch)
Experts say we should prepare for the possibility the war in the Middle East will force Australia to start rationing fuel.
Motorists are being asked to stop panic-buying because it is making the problem worse.
Until the war is resolved, Australian motorists should expect fuel prices to remain elevated.
If widespread fuel rationing is introduced in Australia, will motorists and businesses be ready?
They say Australia will face difficult logistical questions this year if the war in the Middle East is prolonged.
Dozens of petrol stations around Australia run out of fuel as panic-buying continues
NRMA says record-high fuel may be here to stay in Sydney, Melbourne and Brisbane after prices soared early in the Middle East conflict
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Dozens of service stations across Australia have run out of petrol as distributors struggle to keep up with customers panic-buying as the conflict in the Middle East continues to disrupt prices.
The NRMA has warned regulators “missed” the chance to stop price hikes, as booming wholesale demand pushes fuel prices to a “permanent high” on the east coast.
The New South Wales government said 32 out of 3,000 service stations in the state were out of at least one fuel type on Monday morning – but enough to leave single-station towns short.
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Fuel reserve released as farmers warn of food price hit
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Farmers have warned Australians will face higher food prices even after the federal government began releasing 760 million litres of petrol and diesel from its domestic reserves to boost regional supplies.
As Australia heads into the third week of skyrocketing petrol prices from the war in the Middle East and state governments hold emergency meetings, Energy Minister Chris Bowen has authorised fuel companies to start drawing up to six days’ worth of supply from national reserves.
After an urgent roundtable on Monday that followed Queensland and Victoria meetings, the NSW government threatened to use emergency powers to direct supply if the fuel industry did not prioritise areas that were running short, and it told petrol stations to declare online if they exhaust their tanks.
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