SYDNEY: Australian Prime Minister Anthony Albanese warned the economic shocks of the war in the Middle Eastwould be felt for months and encouraged citizens to take public transport in a rare address to the nation on Wednesday. The address was broadcast simultaneously across major television and radio networks at 7 p.m. (0800 GMT). Similar addresses were made by previous prime ministers during the COVID-19 pandemic and the 2008 global financial crisis.
Australia, which imports about 90 percent of its fuel, has seen petrol prices surge and experienced localized shortages as a result of the US-Israeli war on Iran and the blockade of the Strait of Hormuz.
“I understand that right now it’s hard to be positive,” Albanese said. “The war in the Middle East has caused the biggest spike in petrol and diesel prices in history. Australia is not an active participant in this war. But all Australians are paying higher prices because of it.
“The economic shocks caused by this war will be with us for months.”
Albanese encouraged citizens to “do their bit” to ease pressure on fuel supplies, such as not stockpiling fuel ahead of the Easter holidays, which begin this week, and taking public transport.
