CANBERRA, March 12 (Xinhua) -- The Australian government is amending the country's fuel quality standards to allow higher sulfur levels for the next 60 days for more supply, according to the energy minister on Thursday.
"This will allow around 100 million liters a month of new petrol supply that would otherwise have been exported to be blended instead into the Australian domestic supply," said Minister for Climate Change and Energy Chris Bowen.
Ampol Australia has committed to ensuring this redirected supply will be prioritized for regions facing shortages and for the wholesale spot market that supports independent distributors and harvesters, he said, noting that while Australian fuel consumption has not changed, this will help relieve pressure on distribution chains disrupted by elevated demand.
The amendment came right after the International Energy Agency's decision to release more oil. On Wednesday, the IEA agreed to the release of 400 million barrels of oil from its 32 member countries, including Australia, to address disruptions and help calm the global oil market. ■