The International Energy Agency has issued a warning as diesel hits a record three dollars a litre.
Some petrol stations in Kingsbury in Melbourne’s North are charging $3.10 a litre.
The nation’s average is currently sitting at $2.45 a litre with little relief in sight due to the escalating conflict in the Middle East.
“We need to see the government come out and clearly communicate with the Australian people what fuel supplies we have, and where our future fuel supplies are coming from,” Liberal Senator Paul Scarr told Today.
“We need to make sure that diesel flows through to our farmers, and that’s really incredibly important to make sure that we get the food on the table and we support all of our productive industries.”
In an urgent decision, the ACCC has allowed fuel companies to collaborate and coordinate fuel supply.
“This is part of the government’s decisive action to make more fuel available to industry and households and keep fuel flowing to where it’s most needed, including the bush,” Treasurer Jim Chalmers said.
“It’s really important that the big players in the fuel markets don’t treat this as a chance to disadvantage the independents who play a vital role, including in regional Australia.”
The decision will allow fuel companies to exchange and coordinate information surrounding the fuel supply across the country to prevent shortages without breaching competition laws.
However, fuel suppliers are still not allowed to share information or reach agreements on fuel prices.
NEVER MISS A STORY: Get your breaking news and exclusive stories first by following us across all platforms.
Discussion about this post