Tasmania’s fuel supply secure despite panic buying surge, the state government says.
Tasmania has enough fuel and more is on the way, but panic buying is threatening to create the very shortages people fear, the government and key stakeholders have warned today.
Deputy Premier Guy Barnett convened an emergency roundtable with industry and business leaders, as local fuel provider Tas Petroleum reports an 80% spike in fuel sales across the state last week.
“Fuel supply in Tasmania is secure and there’s more fuel on the way. There is no reason to panic buy,” Barnett said.
As revealed by Pulse this morning, Barnett has written to the Australian Competition and Consumer Commission urging action against any price gouging or anti-competitive behaviour.
“Any misleading and deceptive marketing should be clamped down on,” he said today.
Tas Petroleum general manager Nathan Thurlow said distributors had been placed on daily allocation limits to ensure supply lasts through the month and beyond.
“If people keep lifting and panic buying the way they’re buying at the moment, well then we may have supply issues,” he said.
Staff at the state’s fuel distributors have been working around the clock to keep service stations stocked, with ships continuing to offload fuel at Hobart and Devonport this week.
Thurlow said prices were forecast to flatten at current levels rather than continue climbing.
“Shipping’s booked three months out so all them cocos booked to come in and they’ve been booked to come in so there should be no change within that.”
Tasmanian Chamber of Commerce and Industry chief Michael Bailey called for calm, comparing the situation to COVID-era toilet paper shortages.
“The distribution hubs never ran out. They just couldn’t get paper out fast enough,” he said.
Bailey said only about 8% of Australia’s fuel comes from the Middle East.
“Someone somewhere in the chain is gouging, I believe, but that certainly isn’t happening in Tasmania,” he said.
The federal government have announced that penalties for price gouging would increase, while Energy Minister Chris Bowen confirmed fuel quality standards would be temporarily adjusted to release 100 million litres of additional supply.
Oil prices topped $100 a barrel today following Iranian attacks that closed the Strait of Hormuz in response to US-Israeli strikes.
As of Thursday afternoon, retail diesel prices were averaging $2.45 per litre across Tasmania, with the cheapest being sold for $1.89 and the most expensive at $2.82.
Unleaded 91 is averaging $2.17 per litre, ranging from $1.88 to $2.45.
Barnett said Tasmanians should buy fuel “when they need it” and check prices at fuelcheck.tas.gov.au.
