The price of unleaded petrol has stabilised recently but the Strait of Hormuz is still closed, and its opening is unknown.

Australasian Convenience and Petroleum Marketers Association chief executive Rowan Lee told Tom Elliott he was “fairly confident” the supply would be all right, but acknowledged it “might come at a price”.

“We now have between 42 days of petrol and 35 days of diesel. The government’s aim is to take that up to 50 days on each one. When we started there was 24-42 [days of petrol] and diesel 24-45 [days],” he said.

Press PLAY below to hear why alternative supplies result in added costs at the pump

Image: iStock