Australians are now facing fuel rationing and the prospect of soaring prices at the pump as wholesalers scramble to manage tightening supplies amid rising tensions in the Middle East. United Petroleum, one of the nation’s largest fuel wholesalers, has already suspended its usual fuel allocations nationwide while it reassesses stock levels and potential supply risks. Some economists are warning that petrol prices could exceed $3 a litre.
Geologist and commentator Ian Plimer says the situation highlights a long-standing vulnerability in Australia’s fuel security. He argues that for decades governments have ignored warnings about the country’s limited fuel storage, reduced oil and gas exploration, and the decline in domestic refining capacity from eight refineries to just two. According to Plimer, these structural weaknesses leave Australia increasingly exposed to global disruptions in energy supply.
