Australia news live: Chris Bowen says petrol reserves wonât ease shortages straight away; RBA tipped to hike rates
Energy minister says it will take âsome timeâ for extra supply to reach regional areas. Follow todayâs news liveGet our breaking news email, free app or daily news podcastThe energy minister, Chris Bowen, says it will take âsome timeâ for the petrol and disesel released from Australiaâs domestic stockpile to reach areas hit by shortages.On Friday, the Albanese government directed fuel companies to release nearly a fifth of reserve petrol and diesel supplies. Dozens of service stations across the country have run out of petrol as retailers struggle with customers panic-buying in response to skyrocketing prices from the Middle East conflict.There will be some time for it to flow through. Thereâs a very complicated supply chain.But it is going to have an impact. Some companies have said it will start to have an impact in coming days, to some degree. But there will be some time before itâs all released. Continue reading...
theguardian.com