Australia's Prime Minister Anthony Albanese has sought to reassure the public that the nation's fuel supply remains secure despite soaring prices and widespread reports of petrol stations running dry. The surge in concern follows the outbreak of war involving Iran and the closure of the Strait of Hormuz, which has driven global oil prices higher. Albanese said the longer the conflict continues, the greater the impact may be, but stressed that the government is working to shield Australians from the worst effects.

Fuel prices have risen sharply in recent weeks, with average petrol prices climbing from 171 Australian cents per litre to 238 Australian cents, while diesel prices in Sydney have reached record highs. Hundreds of stations have reported running out of at least one type of fuel. Industry representatives say the shortages are being driven by panic buying and changes in consumer behaviour rather than an actual drop in national supply.

The government maintains that overall fuel supply levels remain stable and, in some cases, higher than usual. Authorities have released oil from the national stockpile and eased fuel standards to improve availability, while ruling out rationing for now. An emergency national cabinet meeting is expected to address the crisis, which has been compounded by cyclone-related disruptions at two major gas plants in Western Australia that supply a significant share of the global market.