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The Australian Government is pushing to keep the country s remaining two oil refineries open, using the Federal Budget to announce payments to help maintain Australia s current level of fuel security.
The number of Australian oil refineries has halved in the past seven months, putting increasing pressure on the country s limited storage capacity.
Using transport data compiled from January to October 2020, Australia has around 21 days of diesel reserves – the country s most consumed type of fuel – with marginally more petrol stored.
However, the estimated three weeks of diesel reserves was based on transportation needs when large areas of the country were in lockdown due to the coronavirus pandemic, and travel was heavily restricted.