I rise to speak to this important motion brought by the member for Mayo. Australia's fuel security is at the top of this government's agenda, and that is why there is more fuel in this country now than there was prior to the commencement of the conflict in Iran. Following the commencement of the war in February this year, this government acted immediately to arm Australians against the worst possible consequences, which are fuel rationing or no fuel. Our defence forces, emergency services, farmers and other stakeholders in the food security supply chain need to have access to the quantity of fuel and diesel that they need. This is a no-brainer.

As early as March 2026, some commentators were saying that fuel rationing was inevitable and that the government had not done enough. Now the war continues, and no-one is able to say when it might end, how it might change or how we might need to adapt, but one guarantee that can be given is that this government's work in building relationships with our regional partners has meant our fuel supply is secure. The government was able to draw on these meaningful partnerships to secure additional fuel and fertiliser supplies for the Australian people in the midst of one of the most serious energy crises the world has ever seen. We would not have been at the front of the queue without having first done the work to build those relationships, which included exploring and crystallising what is mutually beneficial from a gain-of-trade perspective. The time to build relationships is not when a crisis arises; the right time is all times, which is the approach this government has taken and which has been successful.

The government's work with the EFA, legally constituted as the Export Finance and Insurance Corporation and Australia's export credit agency, has also played a critical role in fuel security. For example, in May 2026, approximately 100 million litres of additional diesel was secured for Australians, with shipments coming from Brunei and South Korea taking the form of the first of the expected shipments of fuel secured under the government's strategic reserve powers, which saw Export Finance Australia partnering with Viva Energy to facilitate this purchase. Export Finance Australia has also reached commercial terms with Ampol and Park Fuels, supporting them to purchase additional fuel needed to address regional shortages and critical supply gaps and helping to acquire additional supply valuable for Australia's fuel security where it would be cost prohibitive for private suppliers to source on commercial terms without government support.

What was also lost in the noise surrounding the tax changes in the federal budget was the sharp focus on fuel security that was outlined. The historic $15 billion fuel security package included $7½ billion for the Fuel and Fertiliser Security Facility to help suppliers secure additional fuel shipments for Australia, $3.2 billion for the government controlled Australian Fuel Security Reserve and $2.9 billion in temporary relief from petrol prices. The fuel excise reduction took the pressure off consumers when the war commenced, but it was never meant to be permanent, with other cost-of-living measures being implemented to take the pressure off families.

Fuel price monitoring also plays an important cost-of-living role, with almost $70 million extra provided in the budget to strengthen the ACCC's enforcement activities, which include the power to issue penalties of up to $100 million for serious misconduct and cartel behaviour—up from $50 million. The ACCC has announced an investigation into the major fuel companies for alleged market misconduct and is now investigating claims of misleading fuel surcharges in regional areas. This is important because, in a war with no end in sight, effective deterrence measures and effective consequences must be in place to limit the number of entities seeking to take advantage of the Australian consumer, our emergency services and our farmers.

I have a quick note on the suggestion of a windfall because of high prices. High prices are not a windfall for the government. The fuel excise is a flat tax calculated by multiplying the current excise duty rate for a specific fuel type against the total volume of fuel in litres. Now, as we move towards electric vehicles, which this government wholly supports, the amount of the excise is set to fall even further. The government's focus on fuel security is part of our widespread initiative to strengthen energy security and ensure not only that working Australians and businesses have access to fuel but that critical industries can continue to operate and do the important work that they do to serve our country.