In his address, Australian Prime Minister Anthony Albanese said that though the country is “not an active participant in the war, but all Australians are paying a price.” He also highlighted that it has triggered the highest fuel price hike in history. Mentioning the economic shocks he said, it “will be here for months.” "The months ahead may not be easy. I want to be upfront about that. No government can promise to eliminate the pressures that this war is causing. Farmers and truckies, small businesses and families are doing it tough. And the reality is, the economic shocks caused by this war will be with us for months," Albanese continued.
Albanese had earlier reassured motorists that fuel shipments continue to arrive in Australia and that petrol shortages in rural towns stem from panic buying and distribution bottlenecks. And now he has advised Australians to ditch cars and “catch a train, bus or tram to work". This, he said, would preserve fuel for nurses, shift workers, tradespeople and miners who rely on driving.
Also read: West Asia War: Why Iran is targeting UAE but letting Abu Dhabi oil pass on 'friendly' ships
The country also announced temporary tax relief for small businesses and slashed fuel tax to help motorists bearing the brunt of soaring petrol prices. "No government can promise to eliminate the pressures that this war is causing. I can promise we will do everything we can to protect Australia from the worst of it," he added.
The war that began on February 28 between the US, Israel, and Iran has spread across West Asia. And now, with the blockade at the Strait of Hormuz, there is a global energy crisis. Countries across the world are looking for respite; many have had to hike fuel prices. Australia is heavily exposed to disruptions in global fuel supply and imports most of its petrol. The country is currently left with roughly 37 days' worth of petrol in reserve, according to government figures, which is far below the 90-day minimum dictated by the International Energy Agency (IEA).

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