Anthony Albanese (Grayndler, Australian Labor Party, Prime Minister) Share this | Hansard source

I thank the member for Jagajaga for her question and for the leading role that she's playing in policy development for the government going forward as well. What we are dealing with, of course, is global in nature and global in scale, as we heard from the President of the European Commission just yesterday. The war in the Middle East is seriously impacting supply chains and pushing up the cost of fuel right around the world.

Here at home, those higher prices are putting Australians under pressure. We recognise that, and that's why we're taking action, setting up the Fuel Supply Taskforce, releasing 20 per cent of our national fuel reserves and changing petrol and diesel standards to get more fuel flowing. We've backed our oil refineries to keep making fuel onshore. We've made sure that all of the fuel that we make in Australia is used in Australia. We've empowered the ACCC to crack down on price gouging and, just today, have introduced even stronger legislation. We've changed the Fair Work Act so truckies are paid fairly when prices spike. Through the National Cabinet, we're delivering a national response so that the states and territories can distribute fuel to where it's needed most and so the Commonwealth can focus on supply. Working with our trading partners in Asia, we're working to get more fuel to Australia, which is part of our reciprocal relationships. We're backing industry to deliver a Future Made in Australia as well, with more energy and manufacturing sovereignty preparing us for the future.

When the war began, we were better prepared for a shock like this. We had the highest reserves in 15 years, and we'll continue to act in the national interest because our priority is delivering for all Australians, whether it be on fuel supply and security, whether it be on the cost of living or whether it be on securing Australian industry and a stronger economy. We'll continue to work each and every day to engage constructively with states and territories but also with industry, including peak organisations, to make sure that we come through what is a very difficult period right around the world.

See this speech in context