Australia's Fuel Supply Faces Decline Amid Tanker Shortages

Australia's fuel supply is facing significant challenges due to declining tanker numbers and reduced forward orders. According to data from Crude Oil Peak, tankers expected to arrive in the next four weeks will drop by 20%.

The current stock of fuel is at a plateau of 6.3 billion litres for the last eight weeks, with diesel stock averaging 3.5 billion litres over that period. However, forward orders have declined by 31% compared to May 9th, and it has been six consecutive weeks since orders by fuels have been disclosed.

The Minister for Climate Change and Energy, Chris Bowen, stated in a press conference that Australia currently has 43 days' worth of petrol on hand, which is one day more than last week's update. However, the data contradicts this narrative, highlighting concerns about fuel security.