The Australian government stated that national fuel reserves currently cover about 30 days of consumption, which is below the International Energy Agency's recommendation that member countries hold reserves of at least 90 days. Australian Energy Minister Chris Bowen announced at a press conference yesterday that the country will withdraw some of its strategic fuel reserves for the first time since Russia's war on Ukraine began in 2022. Bowen explained that the government will withdraw the equivalent of six days of gasoline consumption and five days of diesel consumption to give suppliers more flexibility in managing fuel supplies, warning that the fuel will not reach the market immediately due to the complexity of supply chains.
