Gas prices are surging as oil hits $100 a barrel for the first time since May, pushing regular unleaded to $1.88/L and diesel to $2.30/L — but don’t panic: Australia’s fuel reserves are stronger than ever, with 42 days of petrol, 38 of diesel, and 32 of jet fuel on hand. Fifty-one ships carrying 3.1 billion litres are en route, and Energy Minister Chris Bowen is reassuring the public that supply is secure despite Middle East tensions. Meanwhile, the fuel excise discount — now at just 16 cents/L — expires August 2, with talks swirling about whether it’ll be extended. The government’s message? Stay calm — your tank’s got this.
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