<div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>The </span><a href="https://www.9news.com.au/government" rel="" target="" title="federal government"><span>federal government</span></a><span> has effectively admitted there is a possibility of fuel rationing if the war in </span><a href="https://www.9news.com.au/iran" rel="" target="" title="Iran"><span>Iran</span></a><span> continues for far longer than expected, but insists there is no reason to resort to panic-buying, with supply continuing to come into the country as normal.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>On the same day as the country's major fuel retailers were hauled before the competition watchdog to explain the </span><a href="https://www.9news.com.au/petrol-prices" rel="" target="" title="astronomical price rises"><span>astronomical price rises</span></a><span> motorists have had to deal with, Deputy Prime Minister Richard Marles was asked about whether petrol rationing would be required.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>He did not rule out the possibility.</span></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-march-17-donald-trump-pushes-allies-for-help-in-strait-of-hormuz/07b534e9-af93-4d00-91dc-58dba21ca969"><strong><span>Middle Eastern travel hub closes airspace</span></strong></a><strong><span></span></strong></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"Obviously, this is a function of how long this conflict continues, and that's not something that I can answer in terms of what's going to happen," he said. </span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"But we are taking the measures that we're taking right now, and it is a matter of people just going about their business normally and calmly."</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>In a separate interview, Marles said the government has no plans to impose rationing at this stage.</span></div></div><div><div class="OUTBRAIN" data-reactroot="" data-src="//www.9news.com.au/national/petrol-prices-australia-richard-marles-doesnt-rule-out-fuel-rationing/c9de0481-bc04-47d2-a272-7606548029ef" data-widget-id="AR_5"></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>He also pointed to several steps the government has taken in recent days to alleviate the supply pressures caused by the </span><a href="https://www.9news.com.au/world/us-israel-attacks-iran-strait-of-hormuz-explained-oil-gas-prices/f8e7c1ed-f6d9-4fe5-8277-6a11c09d8de6" rel="" target="" title="effective closure of the Strait of Hormuz"><span>effective closure of the Strait of Hormuz</span></a><span>, including releasing 20 per cent of Australia's domestic stockpiles and relaxing fuel standards to allow higher-sulphur products to be used locally.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"All of that is about getting more fuel out there," Marles told </span><em><span>Today</span></em><span>. </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/national/fuel-shortage-regional-australia-farmer-urges-victorians-to-stop-driving-to-work/f247462b-544b-431b-96cc-4e2076173ef1"><strong><span>Farmer urges commuters to stop driving to work to ease fuel crisis</span></strong></a><strong><span></span></strong></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"We are targeting the regions, places where there are the greatest needs. So, we are doing everything within our power to see fuel get to where it is required. </span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"What we are really saying of Australians right now is to go about your business as you normally would. </span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"We very much understand the pressure, particularly in the regions where there are fuel shortages that (are) being felt there, and that's why we are acting in the way that we are."</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>The closure of the Strait of Hormuz, where about 20 per cent of the world's oil – as well as an even greater proportion of natural gas, and significant amounts of fertiliser and other key goods – passes, has created the worst-ever supply shock to the global oil market, according to the International Energy Agency.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><strong><span>ANALYSIS:</span></strong><span> </span><a href="https://www.9news.com.au/world/us-israel-attack-iran-vladimir-putin-russia-benefits-donald-trump-sanctions-relief/ce1eafa6-3835-4a9c-9301-d085a9e1a564"><strong><span>There's one big winner from the war in Iran, and it's not Donald Trump</span></strong></a><strong><span></span></strong></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>That makes it more disruptive to the supply line than the twin oil crises of the 1970s, when much of the Western world was hit by major shortages and skyrocketing prices brought about by an embargo in 1973 and then the Iranian Revolution in 1979.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>While Marles acknowledged the risks of a protracted conflict, he said for now, Australia is still receiving oil shipments.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"Right now, our message to Australians is to just keep going on as you normally would," he told the ABC. </span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"As we speak, the same amount of ships that are supplying Australia are doing that."</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>The blame for petrol shortages at some service stations, particularly in regional Australia, has been pinned on panic-buying catching suppliers off-guard.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"We do acknowledge that in some local communities and particularly regional communities, there have been shortages that we are working with the ACCC and the industry to address," </span><a href="https://www.9news.com.au/national/fuel-prices-australia-stefanovic-confronts-chalmers-over-shortage-price-rise/47bc48fa-e0cd-4619-b442-bc065878ccda" rel="" target="" title="Treasurer Jim Chalmers told Today last week"><span>Treasurer Jim Chalmers told </span><em><span>Today</span></em><span> last week</span></a><span>.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><strong><span>HEALTH:</span></strong><span> </span><a href="https://www.9news.com.au/national/ozempic-australia-doctors-push-back-on-push-to-subsidise-glp1-drugs-for-more-australians/a106b9e8-73c1-4a2e-b3f6-e9dcc2501b93"><strong><span>Ozempic wants more Aussies on weight-loss drug cheaply. Doctors disagree</span></strong></a><strong><span></span></strong></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"Now the main reason for that is even in regional areas we're told by the suppliers that there was enough for usual patterns of consumption, but not for these elevated levels of buying."</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Today, the ACCC is hauling major petrol companies in for a meeting about the sky-high prices motorists have faced at the bowser over the last two weeks.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"Some of the steep increases in petrol prices we saw shortly after the outbreak of this conflict have really raised concerns at the ACCC," Chalmers said today.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"Today the regulator will get a chance to make the retailers and suppliers justify their prices.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"I've made it very clear that if they find evidence of misconduct, we expect the ACCC to throw the book at them."</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Since the start of the war, the government has doubled the fines available to the consumer watchdog if it finds petrol companies have behaved illegally.</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><strong><em><span>Get your breaking news and exclusive stories first by following us across all platforms.</span></em></strong></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>