‘It’s a different world now’: Albanese calls snap national cabinet meeting over fuel crisis

‘It’s a different world now’: Albanese calls snap national cabinet meeting over fuel crisis Australian prime minister says US–Israeli war on Iran has shifted the international reality, likening current economic shock to Covid pandemic and Ukraine invasion Follow our Australia news live blog for latest updates Get our breaking news email , free app or daily news podcast Anthony Albanese says the federal government is preparing new measures to help shield households from the economic fallout of the war in Iran, likening supply chain and fuel disruptions to the Covid-19 pandemic. Announcing a snap meeting of national cabinet on fuel supply set to take place on Thursday morning, the prime minister used a speech to the Australian Automotive Dealer Association in Sydney to warn the international reality had shifted because of the US and Israeli-led bombings. Albanese said stability and predictability in international affairs had gone, and major economic reforms of the 1980s and 1990s were no longer sufficient for the economy. “It’s a different world now,” he said. “We need to acknowledge that, and we need to respond to that.” National cabinet will discuss coordination efforts to ensure fuel shortages are minimised amid a massive spike in demand, including regional communities where some petrol stations have closed. Albanese said better planning for disruptions would be a feature of the May budget. He will chair Thursday’s virtual meeting with state premiers and territory chief ministers from Tasmania. “We want to make sure that we do everything we can to shield the Australian economy , households and businesses from the worst of global uncertainty,” he said. “This new global challenge demonstrates that we must keep building Australia’s self-reliance and our economic resilience.” He likened the current crisis to the Covid-19 pandemic and disruption caused by Russia’s invasion of Ukraine, calling the war the third major economic shock in a decade. The energy minister, Chris...