QUESTIONS WITHOUT NOTICE

Senator WONG (South Australia—Minister for Foreign Affairs and Leader of the Government in the Senate) (14:55): I thank Senator McDonald for the question. The point which I agree with you is that we are seeing another round of disruption to global markets. That has consequences for oil prices—diesel, petrol and petroleum product prices—here in Australia, and this is why we have said, for some months, that we want to see an end to the conflict in the Middle East.

We want to see the Strait of Hormuz opened. We want to see the negotiations continue. What is occurring in terms of the Strait of Hormuz is affecting the global energy market, which is in turn affecting Australians, whether they live in regional Australia or in urban areas.

The first priority the government has had throughout this is to keep us shielded from supply shocks. You would know—and I recognise your involvement with regional communities—there was a great deal of concern, fear and worry about access to diesel and to urea, in particular. The first point is we knew that we had to act to deliver supply, and we did.

We invested in the budget $7.5 billion into the Fuel and Fertiliser Security Facility to secure more fuel, as well as announcing the fuel security reserve to build long-term fuel resilience and to look at new or expanded refining capabilities. We recognise the price is fluctuating, and we've seen a spike. Senator WONG: No, it is fluctuating.

It's gone up— (Time expired)