The Prime Minister convened a virtual National Cabinet meeting today to discuss Australia's national, coordinated response to support our fuel security and supply chain resilience in light of the ongoing conflict in the Middle East.
First Ministers acknowledged the conflict is contributing to heightened volatility in global energy markets, with flow-on impacts for domestic supply chains and prices. Leaders noted the situation remains dynamic and evolving, underscoring the importance of governments being well-prepared for a range of potential scenarios.
While Australia is in a secure position currently, it's the responsibility of all governments to plan ahead for every scenario. First Ministers today agreed to the National Fuel Security Plan to coordinate a consistent response across the Commonwealth, states and territories.
The plan outlines how governments will work together to keep Australia open and the economy moving. First Ministers noted that early voluntary action, coupled with new supply measures, can defer or mitigate the need for stronger measures.
Every Australian can play a part to make sure fuel continues to get to those who need it the most. Our collective approach is guided by four levels of action.
Today the National Cabinet is announcing Australia is currently at level "Keeping Australia moving", having transitioned through "Plan and Prepare".
The four stages are as follows:
- Plan and prepare
- Keeping Australia moving
- Taking targeted action
- Protecting critical services for all Australians
The plan outlines the indicative settings at each level, with roles and responsibilities allocated across governments and industry partners.
Minister Bowen provided an update on Australia's supply outlook. The Fuel Supply Taskforce Coordinator, Anthea Harris, provided an update on the progress of the Fuel Supply Taskforce. Leaders noted the newly formed Fuel Supply Coordinators group has met twice and will continue to meet twice weekly. Leaders agreed the Fuel Supply Coordinators will be critical to ensure alignment of effort across all levels of government, especially for cross-border considerations.
Leaders reinforced their commitment to securing fuel supply for Australian industry and households, while also shielding Australians from higher prices. Leaders acknowledged the longer the conflict in the Middle East goes on, the more significant the impact will be for global supply chains, fuel prices, and the wider economy.
The National Cabinet will continue to assess whether higher levels of action are needed and will plan accordingly. Any shift in level will be signalled by the National Cabinet, including through consultation with relevant industries and sectors, to ensure additional measures are well-designed and work efficiently.
First Ministers concluded by noting that as their governments work through the immediate challenges, they must all build fuel and energy resilience to shield the Australian community and industry from future global shocks. At the heart of this is unlocking affordable and sovereign energy to underpin Australian industry, lower power prices, and maintain Australia's status as a trusted and reliable energy exporter.
This media statement has been agreed by First Ministers and serves as a record of meeting outcomes.
Anthony Albanese MP
Prime Minister
Chris Minns MP
Premier of NSW
Jacinta Allan MP
Premier of Victoria
David Crisafulli MP
Premier of Queensland
Roger Cook MLA
Premier of Western Australia
Peter Malinauskas MP
Premier of South Australia
Jeremy Rockliff MP
Premier of Tasmania
Andrew Barr MLA
Chief Minister of the Australian Capital Territory
Lia Finocchiaro MLA
Chief Minister of the Northern Territory
