Australia will underwrite fuel deals during supply concerns, Albanese says
AP News • • world
Key Points:
- Australia has agreed to underwrite contracts for its largest fuel suppliers, Ampol and Viva Energy, to purchase gasoline and diesel at above-normal prices amid supply disruptions.
- The government will have the authority to direct fuel distribution, prioritizing regional and farming areas experiencing shortages.
- Prime Minister Anthony Albanese emphasized that even if the recent two-week ceasefire in the Middle East holds, fuel supply disruptions will persist for an extended period.
- Albanese is visiting Singapore to strengthen bilateral cooperation on energy supply chains, highlighting the strong relationship between the two countries in liquefied natural gas and refined petroleum trade.
- The Australian government is acting swiftly to increase fuel supply and enhance resilience in response to ongoing global energy challenges.
