Kevin Morrison

So that combination of release of stockpiles and plus China and Japan dipping into their own, that helped cushion the supply gap.

But if the stroke was to be closed again...

That option of a further large stock release, particularly coordinated by a DIA, really that's kind of off the table.

We've already expended that option.

So it will be quite precarious.

Yeah, every country will now want to build a reserve, and particularly Australia will.

We saw the government allocate funding for new storage capacity in the budget.

Really, before we were kind of just doing it in an adjusting time basis where, you know, it was more about market efficiency.

Because obviously, if you have lots of storage capacity, that obviously costs money.

And then that cost is passed on to the consumer.

So Australian motors have actually been quite fortunate relative to the other companies.

developed countries in the world.

Australia pays amongst the lowest amount for petrol.

I guess only the US and Canada actually sort of on average pays less than Australia.

But both those countries are exporters, whereas Australia is completely reliant on imports.

So if we start spending this $10 billion on extra storage capacity, that cost is going to eventually be passed on to consumers.

So overall, the average price of fuel should increase.

Well, I think it's certainly changed, whether it's changed forever or not.

It would require a very comprehensive peace agreement, and that would have to include more than just the U.S.

and Iran, because obviously this recent closure was due to the exchange of fire between Israel and Hezbollah.