Labor to use new fuel security powers to underwrite extra shipments to Australia

PM did not rule out later fuel rationing or work-from-home measures but said he strongly preferred ‘voluntary arrangements’

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The Australian government will take on the financial risk of additional imports of essential products affected by the war in the Middle East, to get extra supplies of petrol, diesel and fertiliser into the country.

The prime minister, Anthony Albanese, announced the new fuel security powers on Saturday after a month of soaring diesel and petrol prices and widespread shortages at service stations, particularly in regional Australia.