Australia eyes new fuel supply from US, Mexico and Asia as diesel prices spike to record high

Shipments of fuel into Australia were secure until at least the middle of May, the energy minister said on Thursday

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Australia could get more fuel from the US, Mexico or its Asian neighbours, with a new government policy helping refineries bid for oil shipments as diesel prices spike to new record highs.

Prime minister Anthony Albanese is flying to Singapore on Thursday to lock in ongoing petrol supplies from our biggest source of refined fuels. On his way out of Australia, he confirmed the government had used new powers to extend assistance to refineries Ampol and Viva, with Canberra to underwrite their efforts to buy new shipments of oil on the open market.