THE Coalition has proposed a plan to double Australia’s minimum fuel reserves to 60 days and deliver at least 1 billion litres of new storage through an $800 million Australian Fuel Security Facility.

The plan will build long-term resilience against future supply shocks in the Parkes electorate.

Under the plan, the threshold amount of fuel held by industry in Australia’s fuel reserves through the Minimum Stockholding Obligation would be lifted over time to increase stocks of gasoline, jet fuel and diesel.

Member for Parkes Jamie Chaffey said the national fuel crisis had exposed critical fuel storage gaps in the Parkes electorate.

“This crisis has exposed Australia’s vulnerability to global supply shocks of critical liquid fuels, including in the electorate of Parkes – from Narrabri to Broken Hill, and Lightning Ridge to Parkes,” Mr Chaffey said.

“The Coalition’s fuel security package will more than double our fuel reserves and deliver a new wave of vital storage projects – it’s about locking in our long-term resilience so Australia can stand on its own two feet.

“I urge the federal government to back our plan and, importantly, commit to increasing our minimum fuel threshold on 1 January 2027 as a positive first step towards locking in our fuel security.”

Currently, industry is required to hold around 30 days’ worth of reserves for each fuel type.

In addition to raising the threshold, a dedicated $800 million program will be established to invest in new large-scale fuel storage projects across the nation, significantly boosting the capacity of industry to hold more fuel onshore.

Leader of the Opposition, Angus Taylor, said Australians expect their country to keep running, but in a crisis, the Prime Minister is always last to lead.

“This is a plan the Prime Minister should pick up today. No excuses, no delays,” Mr Taylor said.

“If fuel stops, Australia stops. It’s that simple. Trucks don’t move, supermarkets don’t stock, businesses shut their doors.

“We are putting forward a practical plan to make sure that never happens. More fuel in reserve, more storage on the ground, and a country that can stand on its own two feet.”

Leader of The Nationals Matt Canavan said families and businesses needed confidence that fuel would be there when they needed it.

“This plan is just common sense. Keep more fuel here in Australia so we are not relying on overseas supply lines that can be cut overnight,” Senator Canavan said.

“We cannot keep hoping for the best. We need to be ready, and this plan gets us there.”

Shadow Minister for Energy and Emissions Reduction Dan Tehan said the Coalition’s plan delivered a clear pathway to stronger fuel security.

“The Coalition understands that fuel security is national security: in government, we legislated the Minimum Stockholding Obligation, funded new fuel storage, and backed our refineries,” Mr Tehan said.

“This stands in stark contrast to the Albanese Labor Government, which has cut funding for fuel storage projects over three federal budgets.”