Labor Pledges $10 Billion Fuel Security Package, Expanding Domestic Reserve The Australian government is introducing a $10 billion Fuel Security and Resilience package, which includes establishing a government-owned fuel reserve of approximately one billion litres. Fuel suppliers will be required to maintain an additional 10 days of fuel reserves, aiming for a total of at least 50 days’ worth of petrol, diesel, and jet fuel storage. The funding is allocated to a new security facility, the reserve, and exploring expanded domestic fuel capabilities.

• The Australian government is introducing a $10 billion Fuel Security and Resilience package.
• A government-owned Australian Fuel Security Reserve with a capacity of around one billion litres will be established.
• Fuel suppliers must maintain an additional 10 days’ worth of fuel reserves.
• The goal is to ensure a minimum of 50 days’ worth of petrol, diesel, and jet fuel storage.
• Funding includes $7.5 billion for a fuel and fertiliser security facility and $3.2 billion for the reserve.