Australia has extended a measure that releases petrol and diesel from domestic reserves, Energy Minister Chris Bowen said, as the country continues to grapple with the impact of the Iran war on energy supplies, Reuters reports.
The measure — a 20 per cent temporary reduction to fuel companies’ minimum stockholding obligations, freeing up to 762 million litres of petrol and diesel — has been extended until September.
It was first introduced in March to help counter fuel shortages, particularly in regional areas, and was due to expire in July.
“I’ve reached a judgement that it’s best to provide that ongoing flexibility,” Bowen said in televised remarks.
