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The new minimum holding for petrol and aviation fuel is 37 days and diesel 42 days.

Topic: defense & securityRegion: asia pacificUpdated: i3 outletsSources: 5Spectrum: Mixed⏱ 1 min read
📰 Scored from 3 outletsacross 2 Left 1 Center How we score bias →
Story Summary
SITUATION
Australia to spend $10 billion to boost fuel stockpile to 50 days as oil crisis worsens Australia to build government-owned fuel stockpile for first time since World War II. Reporting is limited at this stage.
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Spectrum: Mixed🌍Asia: 3 · Other: 2
Political Spectrum
Position is inferred from coverage mix.
i3 outlets · Center
Left
Center
Right
Left: 2
Center: 3
Right: 0
Geography Coverage
Distribution of where coverage is coming from.
i3 unique outlets · Dominant: Asia
KEY FACTS
  • Set to cost $3.2 billion, the 1 billion-litre fuel stockpile is a significant departure from the current fuel security policy that relies on privately owned fuel and storage facilities.
  • While fuel shortages were driven by panic buying, the government’s legal requirement for 27 days of reserves was criticised for being far below the International Energy Agency’s requirement of 90 days.
  • The government’s 1 billion litre diesel and aviation fuel would increase the nation’s holdings above the minimum requirement to around 50 days’ worth of average national use.
HISTORICAL CONTEXT

This development falls within the broader context of Energy activity in Asia Pacific. Current reporting indicates: The new minimum holding for petrol and aviation fuel is 37 days and diesel 42 days.

Set to cost $3.2 billion, the 1 billion-litre fuel stockpile is a significant departure from the current fuel security policy that relies on privately owned fuel and storage facilities.

Sources
5 of 5 linked articles