Australia-Singapore Fuel Security Deal

The deal comes as Australia faces mounting pressure over record-high petrol prices and concerns about national fuel reserves.

While the agreement ensures supply, experts have warned that it may not immediately lead to lower prices at the pump due to surging global crude costs.

The federal government has also launched a $20 million campaign urging citizens to conserve fuel and drive less, a move that has been criticized by the opposition as a 'costly distraction.' Western Australia is also considering creating its own strategic diesel stockpile to protect its vital agriculture and resources industries.