It says this will ensure fuel security for Farrer and Australia.
Under the plan, the threshold amount of fuel held by industry in Australia’s fuel reserves through the Minimum Stockholding Obligation would be lifted over time to increase stocks of gasoline, jet fuel and diesel.
Currently, industry is required to hold around 30 days’ worth of reserves for each fuel type.
Senator for NSW Maria Kovacic said the national fuel crisis had exposed critical fuel storage gaps in the community.
“This crisis has exposed Australia’s vulnerability to global supply shocks of critical liquid fuels, particularly impacting regional communities, like Farrer,” she said.
“This fuel security package will more than double Australia’s fuel reserves and deliver a new wave of critical storage infrastructure, strengthening our long-term resilience and reducing reliance on external supply, so that our nation can stand firmly on its own.”
Liberal Candidate for Farrer Raissa Butkowski welcomed the announcement, having advocated on behalf of local businesses and families struggling with fuel shortages across Farrer.
“Our communities were already doing it tough under Labor’s cost of living crisis, with the fuel shortages making their lives even harder,” Ms Butkowski said.
“I have seen the impact firsthand, with businesses worried about keeping trucks on the road, and families concerned about their kids getting to school.
“Under this Labor Government, Farrer is under significant pressure. Doubling the fuel reserves and an $800 million Australian Fuel Security Facility would ensure we are not facing this situation again.
“This is about making sure our communities have reliable access to fuel and are protected from future shocks, and that is why I am asking locals for their support on May 9 to help deliver on the Coalition’s plan for Farrer.”
