Disruption to Middle Eastern oil shipments has triggered a global fuel crisis affecting Australia, which relies on imports for 90% of its liquid fuel needs after domestic refinery closures reduced capacity from eight facilities to two. Petrol and diesel prices have surged roughly 40-67% since late February, with some Australian petrol stations running dry and consumer confidence hitting a record low.
Otto Beta
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Disruption to Middle Eastern oil shipments has triggered a global fuel crisis affecting Australia, which relies on imports for 90% of its liquid fuel needs after domestic refinery closures reduced capacity from eight facilities to two. Petrol and diesel prices have surged roughly 40-67% since late February, with some Australian petrol stations running dry and consumer confidence hitting a record low.