By international standards, Australia holds very low fuel reserves—often around 30 days of petrol, diesel, and jet fuel—and relies on imports for around 90% of refined fuels.
Australia’s fuel storage levels breach the International Energy Agency’s (IEA) requirement that members must hold 90 days of net oil imports:
With only two refineries left, Australia also has limited ability to refine crude oil domestically. This means that if imports of refined fuel stop, Australia cannot quickly switch to refining its own crude.
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