Labor Pledges $10 Billion Fuel Security Package, Expanding Domestic Reserve

As part of the plan, Labor will establish a government-owned Australian Fuel Security Reserve with a capacity of around one billion litres.

An aerial view shows the Mobil fuel distribution centre in Melbourne, Australia, on March 23, 2026. William West/AFP via Getty Images

The Australian government has announced the upcoming federal budget will include a $10 billion (US$7.2 billion) Australian Fuel Security and Resilience package.

A joint statement between Prime Minister Anthony Albanese and various ministers revealed plans for a government-owned Australian Fuel Security Reserve with a capacity of around a billion litres.