Financial analyst says Australia will be ‘far less vulnerable’ if we reduce imported oil

The foreign minister is travelling to Japan, China and Korea - to try and ensure Australia is prioritised by fuel supplier’s. The three countries provide a mix of diesel, petrol and jet fuel to Australia. Petrol prices have come down from the initial highs triggered by the closure of the strait of Hormuz. Tim Buckley the director of 'climate energy finance', says the dip stems from cautious energy companies.