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The Australian Industry Group has called for a national response and renewed approach to the concerns surrounding fuel shortages.
The Australian Industry Group (AIG), one of Australia’s largest employer organisations, has called on the Albanese government to address the growing worry regarding the “rapidly escalating [fuel] crisis” as a result of the continued US/Israel–Iran conflict.
In a press statement, AIG said that ahead of the national cabinet meeting addressing these concerns, the federal government should look back on the COVID-19 response, noting that “when we address challenges as a nation, we get better outcomes”.
“The Liquid Fuel Emergency Act provides us with clear guidance,” the statement read.
“The Commonwealth minister responsible for energy has the power to direct the implementation of a national system to ration fuel over a predetermined period of time (no longer than three months) in the event of a declared liquid fuel emergency.
“Industry requires as much predictability as is possible in these uncertain times.
“A fragmented approach would inhibit our ability to manufacture and deliver the food, medicine and other essential goods and services that the economy demands.”
Following the US and Israeli joint attack on Iran nearly a month ago, concerns have continued to mount in Australia due to the stoppage of oil shipments through the Strait of Hormuz, which supplies nearly a quarter of the world’s oil.
This has seen petrol prices in Australia soar well over $2.50 per litre, panic buying in regional communities, and the agricultural industry expressing concern as the critical crop season approaches.
Multiple unions have additionally urged the federal government to take action.
