Australia proposes A$10 billion package to boost fuel and fertilizer reserves
Updated
Updated · Bloomberg · May 6
Australia proposes A$10 billion package to boost fuel and fertilizer reserves
9 articles · Updated · Bloomberg · May 6
Prime Minister Anthony Albanese said in Sydney the budget plan would create a permanent 1 billion-litre government-owned onshore fuel reserve.
It would also require companies to hold about 10 extra days of fuel, helping expand diesel and jet fuel storage to 50 days of supply.
The move follows a run on fuel and fertilizer supplies in Australia triggered by the Iran war, broadening an earlier fuel-security plan to include fertilizer.
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