The Victorian Transport Association (VTA) has welcomed a new Federal Government fuel security package, saying the measures will strengthen supply chain resilience and reduce Australia’s reliance on imported fuel.
The package, due to be outlined in next week’s Federal Budget, includes plans to expand Australia’s onshore fuel reserves to at least 50 days, establish a permanent government-owned fuel security reserve, increase minimum stockholding obligations across fuel types and invest in domestic refining capability.
VTA CEO, Peter Anderson, said the reforms addressed long-standing concerns from the freight sector about supply vulnerabilities.
“Freight keeps Australia moving, and fuel security underpins freight,” said Anderson.
“The VTA has long argued that Australia’s heavy dependence on imported refined fuel leaves our economy dangerously exposed to global shocks, whether from geopolitical conflict, shipping disruptions or price volatility.”
Anderson said increasing fuel reserves, including diesel and aviation fuel, would improve supply continuity for freight operators and essential services during disruptions.
“Building sovereign fuel reserves is an economic and national security issue,” he said. “For transport operators, continuity of supply is essential.”
The VTA also welcomed proposed investment in domestic refining capability, including feasibility studies for new or expanded refining infrastructure co-funded with states and territories.
“We have consistently called for policy settings that retain and expand domestic refining, beyond simply keeping existing facilities operating,” Anderson said.
“Investment in refining capability is fundamental to energy sovereignty, price stability and supply chain resilience.”
The association said it would continue working with the Commonwealth Government on implementation to ensure the reforms deliver practical benefits for the freight and logistics sector.
