Australia ‘s Energy Minister Chris Bowen has warned fuel retailers against ‘dangerous’ price gouging as petrol prices surge due to panic buying triggered by the con?ict in the Middle East.
to increase supply, the government announced a 20 percent reduction in the country’s Minimum Stockholding Obligation for petrol and diesel. The move could release up to 762 million liters of fuel from Australia’s domestic reserves to ease shortages in affected regions. Bowen urged citizens to avoid panic purchasing and buy only the fuel they need, stressing that selling fuel at in?ated prices is ‘unAustralian’ and harmful to the public.