<div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Australians should not expect any significant reduction in fuel prices after the government </span><a href="https://www.9news.com.au/world/australia-oil-crisis-prime-minister-anthony-albanese-lands-in-singapore-on-mission-to-cement-oil-supply/0e9b8d55-8bc1-4e4b-a86a-d64af25b635a" rel="" target="_blank" title="struck a deal with Singapore to keep refined oil flowing into the country."><span>struck a deal with Singapore to keep refined oil flowing into the country.</span></a></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Singapore has assured Prime Minister Anthony Albanese that it will do everything in its power to ensure more than half of the country's fuel imports continue arriving in Australia.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>But will this have any material impact on the still sky-high </span><a href="https://www.9news.com.au/petrol-prices" rel="" target="_blank" title="petrol and diesel prices?"><span>petrol and diesel prices?</span></a></div></div><div><div id="adspot-mobile-medium"></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><strong><span>LIVE UPDATES:</span></strong><span> </span><a href="https://www.9news.com.au/world/us-israel-iran-war-live-updates-april-12-donald-trump-latest-world-news-headlines/163b8e5f-3d55-4645-91ef-d59751f70eb0" rel="" target="_blank" title="'Bad news': US fails to strike peace deal with Iran in Pakistan"><strong><span>'Bad news': US fails to strike peace deal with Iran in Pakistan</span></strong></a></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><strong><span>READ MORE:</span></strong><span> </span><a href="https://www.9news.com.au/national/petrol-prices-australia-government-to-roll-out-fuel-saving-campaign/20120860-912a-4cc4-99c2-1ce92f3da021" rel="" target="_blank" title="The $20 million taxpayer spend urging Aussies to drive less"><strong><span>The $20 million taxpayer spend urging Aussies to drive less</span></strong></a></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>According to Nine's chief political editor Charles Croucher, this won't change anything at the bowser.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"Unfortunately I think this is fuel security, not a fuel surplus," Croucher told </span><em><span>Today</span></em><span>.</span></div></div><div><div class="OUTBRAIN" data-reactroot="" data-src="//www.9news.com.au/national/petrol-prices-australia-when-will-fuel-prices-go-down-after-pm-strikes-deal-with-singapore/67682665-3bfd-4704-8001-1774e08dd382" data-widget-id="AR_5"></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"So don't expect there's going to be a flood of availability coming to Australia that causes prices to go down."</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Just over 170 service stations across Australia are now out of diesel.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Diesel prices are still hovering above the $3 per litre mark, despite government efforts to put downward pressure on oil companies with a temporary excise reduction.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>The average price of diesel is $3.17 per litre and $2.20 for unleaded, according to Fuel Radar.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><strong><span>READ MORE:</span></strong><span> </span><a href="https://www.9news.com.au/world/us-israel-iran-war-are-we-heading-towards-world-war-three/8126c711-71fc-499b-8498-401c3ca4b34c"><strong><span>Are we heading towards World War Three?</span></strong></a></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Singapore supplies just 15 per cent of Australia's diesel and 55 per cent of the country's petrol.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>More mutual energy agreements may need to be struck elsewhere in the Asia to shore up Australia's supply outside of reliance on the Strait of Hormuz, including Korea, Brunei and Japan.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Japan's Prime Minister Sanae Takaichi is reportedly planning a visit to Australia later this month.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>It is expected the Japanese PM will discuss the Strait of Hormuz and the supply of rare-earth minerals.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Energy Minister Chris Bowen has previously warned there will be a "long tail" even after the conflict ends and ships begin sailing through the Strait of Hormuz.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"Even if it opened today, there's a big backlog of ships, there's been gas plants bombed out of existence," he told reporters on yesterday.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"The international energy situation will take a long time to recover from this. This is not over."</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>He said Australia has 38 days' worth of petrol, 31 days' worth of diesel, and 28 days' worth of jet fuel in reserve.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><strong><em><span>NEVER MISS A STORY:</span></em></strong><span> </span><em><span>Get your breaking news and exclusive stories first by following us across all platforms.</span></em></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><ul><li><strong><em><span>Download the 9NEWS App here via</span></em></strong><span> </span><a href="https://apps.apple.com/au/app/9news/id1010533727" target="_blank"><strong><em><span>Apple</span></em></strong></a><span> </span><strong><em><span>and</span></em></strong><span> </span><a href="https://play.google.com/store/apps/details?id=nineNewsAlerts.nine.com&amp;hl=en_AU&amp;pli=1" target="_blank"><strong><em><span>Google Play</span></em></strong></a></li><li><strong><em><span>Make 9News your preferred source on Google by</span></em></strong><span> </span><a href="https://9.nine.com.au/8x987w" target="_blank"><strong><em><span>ticking this box here</span></em></strong></a></li><li><strong><em><span>Sign up to</span></em></strong><span> </span><a href="https://login.nine.com.au/edm?client_id=nineatnine" target="_blank"><strong><em><span>our breaking newsletter here</span></em></strong></a></li></ul></div></div>