Australia's prime minister has sought to reassure the public that the country has sufficient fuel supplies despite widespread shortages at petrol stations. The government says the disruption is being driven by panic buying and distribution bottlenecks rather than a drop in overall supply, which it maintains remains stable.

Fuel prices have surged sharply in recent weeks following military action involving the United States and Israel and the closure of the Strait of Hormuz, pushing oil prices higher. Average petrol prices have climbed significantly, while diesel prices in Sydney have reached record levels.

Industry representatives say motorists and transport companies are stockpiling fuel, with some drivers filling containers for storage and purchasing diesel whenever it is available. Independent petrol stations have been hit hardest because they lack long term supply contracts that give larger operators priority access.

The government is preparing an emergency meeting to coordinate a response and has ruled out rationing for now. It has moved to ease pressure by releasing fuel from the national reserve and adjusting fuel standards, while a recent cyclone disrupting major gas facilities has added further strain to global energy markets.