New research from Money.com.au reveals nearly one in four Australians (24%) admit they’re ‘stockpiling’ petrol or buying more than usual, as uncertainty around fuel prices and potential shortages intensifies amid the Middle East conflict.
Of those, 3% say they’ve faced purchase limits when trying to buy larger quantities of petrol.
The nationally representative survey of more than 1,000 Australians found the majority (76%) haven’t increased their petrol purchases since the conflict began.
Fuel prices have surged since the conflict began on February 28, with unleaded up 34% and diesel jumping 55%, according to NSW FuelCheck data. Regional areas have seen some of the highest price increases. As at 23 March 2026.
Money.com.au’s Finance Expert, Sean Callery, says surging fuel prices and supply fears are fuelling a wave of reactive behaviour at the pump.
“Panic buying at the bowser is a knee-jerk reaction to uncertainty over fuel supply and skyrocketing prices, particularly as the conflict in the Middle East continues and there’s no clear timeline for when conditions will stabilise,” he says.
“With petrol prices pushing towards $3 per litre in some areas, it’s a real financial pressure point for households, and commuters have no choice but to absorb the cost. Some Aussies are turning to stockpiling petrol or filling up more often in an attempt to get ahead of further price increases.”
“But what many don’t realise is that panic buying can actually exacerbate the problem, because when demand spikes suddenly, it puts additional pressure on already tight supply and can push fuel prices even higher.”
Younger Aussies Fuelling the Petrol Buying Surge
The research found younger Australians are leading the petrol buying frenzy nationwide.
Nearly two in five Gen Z (39%) admit they’re stockpiling petrol or buying larger quantities when they fill up, followed by Millennials (30%), Gen X (18%) and Baby Boomers (10%).
“Younger Australians tend to feel price hikes on essentials like petrol more immediately, as their budgets often have less room to absorb sudden cost increases. They’re also more likely to see and react to price movements or supply concerns in real time on social media, which can amplify the panic buying behaviour,” says Sean.
State differences were also clear, with New South Wales motorists the biggest panic buyers (25%), ahead of Victoria (22%) and Western Australia (21%). Lower levels of panic buying were recorded in Queensland (17%) and South Australia (15%).
