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Australia Faces Fuel Crisis: Prices Near $3/Litre, Rationing Possible

3/25/2026

28 5 Full Breakdown

Summary

Story summary

The fuel crisis in Australia deepens as prices approach $3 per litre amid the Middle East conflict.
Energy Minister Chris Bowen said Australia has 38 days of petrol supply and 30 days of diesel and jet fuel.
Deputy Prime Minister Richard Marles warned rationing might be necessary if the conflict persists.
Australia last faced fuel rationing in 1979 during the Iranian Revolution.

History

Historical Context

The Iranian Revolution of 1979, which overthrew Shah Mohammad Reza Pahlavi, caused a drastic drop in oil production, reducing global supply by 4.8 million barrels daily. This disruption led to a 60% spike in oil prices, impacting economies worldwide. Today, rising tensions in the Middle East threaten similar fuel price surges, with Australia facing prices nearing $3 per litre, highlighting ongoing energy vulnerabilities.

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Story summary

The fuel crisis in Australia deepens as prices approach $3 per litre amid the Middle East conflict.
Energy Minister Chris Bowen said Australia has 38 days of petrol supply and 30 days of diesel and jet fuel.
Deputy Prime Minister Richard Marles warned rationing might be necessary if the conflict persists.
Australia last faced fuel rationing in 1979 during the Iranian Revolution.

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