We are currently at Level 2 of the National Fuel Security Plan
Conflict overseas is pushing up fuel prices and impacting supply all over the world. The Australian Government is acting to secure the fuel we need and support Australians who are struggling with costs.
Fuel continues to arrive in Australia in the quantities and frequency we need and expect, despite global market disruptions.
Australia is importing from multiple countries who are continuing to refine and export fuel, with the Government working with industry to secure additional volumes.
Sufficient forward orders for fuel imports are scheduled to arrive in the next four weeks, with volumes responding to lower demand. Industry reports that demand for fuel is lower than normal and there are no concerns in meeting current requirements. Domestic refining of fuel is continuing despite some disruptions at the Geelong refinery, with its output expected to return to over 90% of capacity in June.
Stocks of fuel are higher than average, offering some buffer if future challenges emerge.
Fuel and crude oil prices
Petrol and diesel
| Retail price 20 May 2026 (% change 7 days ago) | 5 largest cities | SYD | MEL | BRIS | ADEL | PER | CBR | HOB | DARW |
|---|---|---|---|---|---|---|---|---|---|
| Petrol (Regular) | $1.85 (+2%) | $1.88 (+2%) | $1.87 (+3%) | $1.88 (+2%) | $1.77 (+1%) | $1.87 (+2%) | $1.84 (+1%) | $1.85 (+1%) | $1.93 (+1%) |
| Diesel | $2.26 (-2%) | $2.27 (-2%) | $2.33 (-3%) | $2.29 (-2%) | $2.25 (-2%) | $2.17 (-3%) | $2.60 (-1%) | $2.32 (-2%) | $2.34 (-2%) |
Source: ACCC Weekly fuel price monitoring report published 22 May 2026. 5 largest cities includes Sydney, Melbourne, Brisbane, Adelaide, Perth.
The Government reduced fuel excise by 32 c/litre from 1 April to 30 June 2026. Since the reduction in fuel excise, Australian retail diesel prices are down 30% and petrol prices down 28% for the 5 largest cities (as at 20 May). Recent declines in international benchmark prices have also helped bring down fuel prices in Australia. After the conflict began, diesel prices increased more rapidly than petrol as the Middle East is a key supplier of diesel and the crude oils that yield the greatest diesel volume upon refining, which the refineries in Asia are mostly configured to use.
International benchmark prices
| Week to 20 May 2026 (% change 1 week ago) | US$/barrel | Change pre conflict |
|---|---|---|
| Brent Crude | US$114 (+6%) | +56% |
| Singapore Gasoil (diesel) | US$164 (+4%) | +84% |
ACCC Weekly fuel price monitoring report published 22 May 2026. Weekly average dated prices on 20 May 2026. Pre-conflict price is week ending 20 February 2026.
Current and anticipated national supplies
The Australian Government has implemented a national minimum stockholding obligation (MSO) as part of Australia’s long-term fuel security. These stocks are a buffer in addition to fuels already sold to customers across Australia. The amount held every week is reported to ensure we hold enough strategic reserves of each major fuel and this takes into account new fuel arrivals and domestic production.
National days of coverage based on normal rates of consumption
| Days of fuel reserves held under minimum stockholding obligation | 19 May 2026 | December quarter 2025 |
|---|---|---|
| Petrol | 43 | 38 |
| Diesel | 38 | 32 |
| Jet fuel | 31 | 29 |
Data as at 19 May 2026. Source: DCCEEW website.
A reported 3.4 billion litres of crude, diesel, jet and petrol are scheduled to arrive from overseas in the next 4 weeks. Some of this is already on ships in transit and some is awaiting departure. It is normal for import volumes to fluctuate significantly from month to month. This does not include supply from domestic refineries (around 20% of national supply) and stocks held in Australia. Fuel stocks are at above average levels.
Fuel reserves (ML) held under the minimum stockholding obligation
| Fuel type | 19/5/2026 (ML) | December quarter 2025 average (ML) |
|---|---|---|
| Petrol | 1860 | 1631 |
| Diesel | 3515 | 2905 |
| Jet fuel | 874 | 790 |
Data as at 19 May 2026. Source: DCCEEW website. Includes stocks in Australia and on water in our exclusive economic zone.
Ships on water to Australia
| As at 22 May | As at 15 May | |
|---|---|---|
| Crude oil | 9 tankers equivalent to 17 days | 8 tankers equivalent to 17 days |
| Clean refined products | 39 tankers equivalent to 12 days | 44 tankers equivalent to 14 days |
Data as at 22 May 2026. Source: Estimated by DCCEEW using Kpler commodity terminal. Clean products include diesel, jet, petrol and blend stocks.
Under the Australian Government’s new Strategic Reserve powers, over 600 million litres of additional diesel and 100 million litres of additional jet fuel for Australia has been secured. Work continues with fuel suppliers, to secure additional fuel shipments in coming days and weeks.
Retail stock-outs
| (Change 7 days ago) | Petrol | Diesel |
|---|---|---|
| ACT (65 sites) | 0 (no change) | 0 (no change) (no diesel and/or premium diesel) |
| NSW (2400 sites) | 9 (-2) (total stockout - all fuel types) | 14 (-17) (no diesel and/or premium diesel) |
| VIC (1700 sites) | 2 (-1) | 2 (-8) |
| QLD (1800 sites) | 8 (+1) | 13 (-3) |
| SA (700 sites) | 6 (no change) | 9 (no change) |
| TAS (308 sites) | 0 (no change) (total stockout - all fuel types) | 1 (no change) |
| NT (210 sites) | 6 (no change) | 6 (no change) |
| WA (771 sites) | 8 (-4) (unleaded - any type) | 8 (-6) (no diesel and/or premium diesel) |
| Australia | - | 53 (-34) (no diesel and/or premium diesel) |
Data as at 22 May 2026. Source: Provided by state and territory governments.
Contact
Fuel Supply Taskforce: fuelsupplytaskforce@pmc.gov.au
Data compiled by Department of Climate Change, Energy, the Environment and Water (DCCEEW).