Conflict overseas is pushing up fuel prices and impacting supply all over the world. The Australian Government is acting to secure the fuel we need and support Australians who are struggling with costs.
Fuel continues to arrive in Australia in the quantities, and at the frequency, we need and expect, despite global market disruptions.
Australia is importing fuel from multiple countries and the government is working with industry to secure more.
Sufficient forward orders for fuel imports are scheduled to arrive in the next four weeks, with volumes responding to lower demand. Industry reports demand for fuel is generally lower than normal and there are no concerns in meeting current requirements.
Domestic refining of fuel is continuing despite some disruptions at the Geelong refinery, with its output expected to return to more than 90% of capacity in June.
Stocks of diesel and petrol are higher than average, offering some buffer if future challenges emerge.
Fuel and crude oil prices
Petrol and diesel
| Retail price 3 June 2026 (% change 7 days ago) | Petrol | Diesel |
|---|---|---|
| 5 largest cities* | $1.73 (-6%) | $2.09 (-6%) |
| SYD | $1.73 (-6%) | $2.07 (-7%) |
| MEL | $1.76 (-5%) | $2.15 (-6%) |
| BRIS | $1.76 (-5%) | $2.14 (-5%) |
| ADEL | $1.67 (-5%) | $2.09 (-5%) |
| PER | $1.75 (-6%) | $2.03 (-5%) |
| CBR | $1.81 (-2%) | $2.24 (-14%) |
| HOB | $1.79 (-3%) | $2.21 (-4%) |
| DAR | $1.78 (-6%) | $2.06 (-9%) |
Source: ACCC Weekly fuel price monitoring report published 5 June 2026. 5 largest cities includes Sydney, Melbourne, Brisbane, Adelaide and Perth.
The government has reduced the fuel excise by 32 cents/litre from 1 April to 30 June 2026. Since the reduction in fuel excise, Australian retail diesel prices are down 35% and petrol prices are down 33% for Australia’s 5 largest cities (as at 3 June). Recent declines in international benchmark prices have also helped bring down fuel prices in Australia. After the conflict began, diesel prices increased more rapidly than petrol. This is because Middle Eastern countries are key suppliers of diesel, as well as the crude oils that yield the greatest diesel volume when refined and which Asian refineries are generally configured to use.
International benchmark prices
| Week to 3 June 2026 (% change 1 week ago) | US$/barrel | Change pre-conflict |
|---|---|---|
| Brent Crude | US$101 (-9%) | +38% |
| Singapore Gasoil (diesel) | US$144 (-6%) | +62% |
ACCC Weekly fuel price monitoring report published 5 June 2026. Weekly average dated prices to 3 June 2026. Pre-conflict price is week ending 20 February 2026.
Current and anticipated national supplies
The Australian Government has implemented a national MSO as part of Australia’s long-term fuel security. These stocks are a buffer in addition to fuels already sold to customers across Australia. The amount held every week is reported to ensure we hold enough strategic reserves of each major fuel and this takes into account new fuel arrivals and domestic production.
National days of coverage based on normal rates of consumption
| Days of fuel reserves held under MSO | 2 June 2026 | March quarter 2025 |
|---|---|---|
| Petrol | 43 | 37 |
| Diesel | 36 | 30 |
| Jet fuel | 30 | 32 |
Data as at 2 June 2026. Source: DCCEEW website.
A reported 3.5 billion litres of crude, diesel, jet and petrol are scheduled to arrive from overseas in the next 4 weeks. Some of this is already on ships in transit and some is awaiting departure. It is normal for import volumes to fluctuate significantly from month to month. This does not include supply from domestic refineries (around 20% of national supply) and stocks in Australia. Fuel stocks are at above average levels.
Fuel reserves in megalitres (ML) held under the MSO
| Fuel type | 2 June 2026 (ML) | December quarter 2025 average (ML) |
|---|---|---|
| Petrol | 1851 | 1631 |
| Diesel | 3374 | 2905 |
| Jet fuel | 834 | 790 |
Data as at 2 June 2026. Source: DCCEEW website. Includes stocks in Australia and on water in our exclusive economic zone.
Ships on water to Australia
| As at 5 June 2026 | As at 29 May 2026 | |
|---|---|---|
| Crude oil | 8 tankers equivalent to 17 days | 7 tankers equivalent to 16 days |
| Clean refined products | 42 tankers equivalent to 15 days | 39 tankers equivalent to 13 days |
Data as at 5 June 2026. Source: Estimated by DCCEEW using Kpler commodity terminal. Clean products include diesel, jet, petrol and blend stocks.
Retail stock-outs
| No petrol of any grade | No diesel (including premium diesel) | |
|---|---|---|
| ACT (65 sites) | 0 | 0 |
| NSW (2403 sites) | 27 | 24 |
| VIC (1700 sites) | 4 | 7 |
| QLD (1800 sites) | 6 | 9 |
| SA (700 sites) | 15 | 20 |
| TAS (308 sites) | 1 | 0 |
| NT (210 sites) | 0 | 0 |
| WA (1002 sites) | 2 | 2 |
| Australia | 55 | 62 |
Data as at 5 June 2026. Source: Provided by state and territory governments.
Contact
Fuel Supply Taskforce: fuelsupplytaskforce@pmc.gov.au
Data compiled by Department of Climate Change, Energy, the Environment and Water (DCCEEW).