Australia Eases Fuel Stock Rules Amid Supply Disruption

Australia announced it would relax fuel stock rules, allowing up to 20% of minimum petrol and diesel reserves to be released. This decision aims to address fuel supply chain disruptions, potentially freeing 762 million litres to alleviate regional shortages, according to Energy Minister Chris Bowen.

In an effort to address fuel supply chain disruptions, Australia announced on Friday that it would relax the minimum stockholding rules for fuel companies. The government will allow the release of up to 20% of the baseline minimum stockholding obligation for petrol and diesel.

Energy Minister Chris Bowen stated that this measure would facilitate the release of up to 762 million litres of petrol and diesel from domestic reserves. This action is expected to ease fuel shortages affecting many parts of regional Australia.

The decision reflects Australia's approach to coping with unexpected disruptions in the fuel supply chain, providing immediate relief to regions grappling with limited fuel availability.

(With inputs from agencies.)