SYDNEY: Australia has appointed former energy regulator Anthea Harris as a new fuel czar to coordinate the response to price spikes and supply chain disruptions as a result of the war in the Middle East.
“Australia is well-prepared, our fuel supply is currently secure, however I want us to be overprepared,” Prime Minister Anthony Albanese told reporters yesterday.
“We’re doing all that we can to secure our fuel supply and get it to the places it’s needed.”
With very little domestic refining capacity, Australia is reliant on imports for more than two-thirds of its fuel needs and Albanese’s government has been struggling to placate consumer concerns.
Drivers are facing surging prices at the pump, while worries have mounted over potential shortages in rural regions – areas crucial to the mining and agriculture sectors.
Strong demand, rather than any shortages, have spurred higher prices, Albanese said, following an emergency meeting of Australia’s National Cabinet, comprised of the prime minister and leaders of the country’s eight states and territories. — Bloomberg
