Australia’s federal government has urged motorists not to panic buy petrol despite a rise in global oil prices sparked by escalating conflict in the Middle East involving Iran and allied forces.

Energy Minister Chris Bowen told the public that the country’s fuel supply is secure, with existing petrol stocks expected to last through May and refiners affirming that supply contracts remain in place.

Bowen acknowledged that global oil markets are under pressure because of geopolitical tensions — particularly the threat to the strategic Strait of Hormuz, through which a substantial portion of the world’s oil flows — but said there is currently no immediate risk to domestic fuel availability.

Bowen’s reassurance came as oil prices climbed toward eighty US dollars a barrel, prompting some Australians to queue at petrol stations in anticipation of higher prices.

The minister stressed that panic buying would only exacerbate local supply issues and urged Australians to avoid unnecessary stockpiling.

Treasurer Jim Chalmers has also intervened, directing the Australian Competition and Consumer Commission to monitor petrol retailers for possible price gouging or anti-competitive conduct as wholesale costs rise.

Although Australia’s reserve levels — about thirty-six days of petrol, thirty-four days of diesel and thirty-two days of jet fuel — fall short of the International Energy Agency’s ninety-day benchmark for emergency stockpiles, Bowen emphasised that current holdings are among the highest in recent years and that contractual arrangements provide confidence in continued supply.

Long queues at service stations in major cities have been reported, but experts and government officials alike have reiterated that short-term market reactions should not trigger panic buying.

Australia’s fuel supply situation contrasts with broader global market concerns, as analysts warn that sustained disruption to shipping through the Strait of Hormuz could push oil prices higher if the conflict persists.

For now, the government’s message remains one of steadiness: there is enough fuel in reserve, and consumers should not rush to fill their tanks solely out of fear of shortages or price spikes.