[Australia to Release Strategic Fuel Reserves to Address Supply Concerns Triggered by Middle East Situation] BlockBeats News, March 14: The Australian government announced it will release approximately 6 days' worth of gasoline and 5 days' worth of diesel supply from its emergency fuel reserves. This marks the first use of these reserves since Russia's invasion of Ukraine in 2022. Australian Energy Minister Chris Bowen stated that the move aims to provide greater flexibility for fuel suppliers in the context of the Middle East conflict. Australia currently holds approximately 36 days' worth of gasoline, 29 days' worth of aviation fuel, and 32 days' worth of diesel in stock. This action is also part of the International Energy Agency (IEA) plan involving 32 member countries jointly releasing 400 million barrels of oil reserves to stabilize global oil prices and ensure supply. Additionally, the Australian government has temporarily relaxed fuel quality standards, with an estimated additional supply of approximately 100 million liters of gasoline per month over the next two months. Due to the Middle East situation and disruptions to shipping in the Strait of Hormuz, international oil prices have risen sharply in recent days, and some regions in Australia are already experiencing fuel supply shortages.