Australia's Fuel Crisis Intensifies with Hormuz Strait Closure
Australia is grappling with a significant fuel crisis as Iran's ongoing closure of the Strait of Hormuz continues to severely impact global oil supplies. This disruption has triggered elevated petrol and diesel prices, along with hundreds of service stations running empty across the nation. The federal government has responded by releasing fuel reserves, cutting excise taxes, and implementing a national fuel security plan to mitigate the effects.
Tracking Fuel Prices and Outages
To provide a comprehensive overview, data has been compiled on fuel prices, service station outages, and oil tanker deliveries. Since the conflict between the US, Israel, and Iran began in late February, average petrol and diesel prices in Australia have risen noticeably. However, there is considerable variation in price and availability, even within small geographic areas, as outages fluctuate with supply chain adjustments.
The map below illustrates the number of fuel outages across Australia on a daily basis. Notably, spikes in outages occurred in New South Wales and Victoria on March 30 and 31, highlighting the crisis's regional impact. The total number of stations experiencing shortages of at least one fuel type is estimated daily, though this may be an undercount due to varying state reporting timelines.
Disruptions in Oil Shipments
At least six fuel shipments to Australia have been cancelled or deferred, with experts anticipating further delays. Data on port calls by tankers carrying fuel and crude oil shows a slight decline in February and March compared to the past six years. More critically, tanker traffic through the Strait of Hormuz collapsed in early March, a vital route that previously handled about one-fifth of global oil and one-third of fertiliser shipments.
Fuel Reserves and Government Measures
In early March, the federal government reduced the minimum stock levels that fuel companies must hold for emergencies. A weekly snapshot of fuel reserves compared to these new minimums reveals that, as of early April, Australia's reserves—measured in days of supply at normal consumption rates—had actually increased since pre-war levels. This suggests some success in strategic stockpiling efforts.
Data sources include government fuel websites and APIs, with average prices updated daily from Motormouth. Methods vary by state: Victoria, Queensland, South Australia, and the Northern Territory explicitly report fuel availability, while outages in New South Wales, Tasmania, and Western Australia are estimated based on station data and historical records. Tanker data is sourced from Portwatch at the University of Oxford, using IMF data, and is updated regularly as the crisis evolves.
This article will be updated with ongoing developments, with any corrections noted in line with editorial standards.
