Tasmanians have been urged not to panic buy fuel despite soaring prices and supply concerns linked to Middle East conflicts.
State government minister Bridget Archer said today there was no need for people to stockpile fuel as the state had adequate supplies.
“Nobody needs to be stockpiling fuel, there are good supplies of fuel at the moment and continuing to be good supplies,” she said.
Average diesel prices have jumped from $1.87 to $2.17 per litre in just one week, while unleaded petrol has risen from $1.76 to $2.01 per litre.
As of Monday afternoon, the Dodges Ferry Hill Street Grocer fuel bowsers had the cheapest unleaded in the state at $1.69 per litre.
The price surge follows fresh conflict involving Iran, Israel and the United States.
The Strait of Hormuz, which around 20% of global oil supplies pass through, has been effectively closed.
Archer encouraged drivers to use the Tas Fuel Saver app to find the cheapest petrol in real time.
“I would encourage people to keep an eye on the fuel in your area via that app, but no need to panic or panic buy at this stage,” she said.
Some service stations are already warning customers about potential supply disruptions.
Buckland Store on the Tasman Highway posted on social media that deliveries could be “very limited” in coming days.
“If things wouldn’t change prices will hit more than $3.00 soon,” the store warned.
When pressed about Tasmania’s fuel reserves compared to the mainland’s estimated one-month supply, Archer said the state had “sufficient” stocks.
“We have adequate fuel supplies,” she said. “Enough and more on the way.”
The minister also suggested Tasmanians consider alternative transport options like Metro buses or active transport options including cycling and walking.
Federal Treasurer Jim Chalmers has written to the competition watchdog asking it to monitor the situation and ensure retailers aren’t price gouging.
