News

Good morning. It’s great to be here with Minister Bowen who will shortly give our usual Saturday weekly fuel update on Australia’s Minimum Stockholding Obligation for Fuel. Australia remains steady at Level Two in our National Fuel Security Plan, ‘Keeping Australia Moving’.

The Albanese Labor Government is taking every practical action to ensure Australians have secure, affordable gas.

Following confirmation from industry and experts that Australia’s east coast market has sufficient gas supplies, Minister for Resources and Northern Australia Madeleine King will not implement gas market export controls.

The Albanese Labor Government has secured approximately 150 million litres, or 900,000 barrels, of additional diesel in three new shipments through partnerships with Ampol, Viva and regional supplier IOR.

These three new fuel shipments are heading to South Australia, Tasmania, Queensland and Victoria, helping get fuel to where it’s needed most, and increasing the distribution spread of additional supplies across the country.

This includes the first shipment with regional supplier IOR, reflecting the Albanese Government’s focus on securing additional supplies for all regions.

The Albanese Labor Government has secured approximately 90,000 tonnes of agricultural grade urea for Australian farmers, producers, and our agriculture industry to keep Australia’s food supply chain moving.

Through Export Finance Australia (EFA), the Government has partnered with CSBP and Incitec Pivot to support the purchase of these first three shipments of additional fertiliser.

The Albanese Labor Government will deliver a major fuel security and price relief package in the Budget, investing $14.8 billion to immediately secure more fuel, strengthen Australia’s supply chains and build long-term resilience to future fuel shocks.

This is a responsible Budget that is all about resilience and reform.

It’s all about getting Australians through the global oil shock and building an economy that works for more people.

The Albanese Labor Government will deliver more cost-of-living relief in this Budget to take pressure off Australians, including a new permanent $250 tax offset for workers.

Together with our existing tax relief, this new round of tax cuts means the average Australian worker could receive a combined benefit of up to $2,816 from 2027-28.

The Albanese Labor Government is delivering a stronger and more sustainable Budget with smaller deficits, less debt and net policy decisions that improve the bottom line.

Responsible economic management is a defining feature of this Government and this Budget is our most responsible yet.

Thanks for coming everyone. Today I’m delivering the weekly update on the amount of fuel that we have in Australia and on the way.

Thanks for coming, everyone. Australian gas under Australian water under Australian soil is very important for Australia's future. We believe in the Albanese Government that Australians should have the chance for a fair go at first access to that gas.