New Delhi, April 1 -- In a rare address to the nation, Australian Prime Minister Anthony Albanese called on citizens to reduce fuel consumption by utilising public transit and to brace for potential economic hardships ahead.

"Over coming weeks, if you can switch to catching the train or bus or tram to work, do so," Albanese said.

Voluntary restraint "builds our reserves and it saves fuel for people who have no choice but to drive," he added. He also urged people not to buy any more fuel than normal.

To mitigate the impact of record-high energy costs spurred by the conflict in Iran, Australia implemented fuel tax reductions this week. However, waves of panic buying have spiked demand, leaving several service stations - particularly thos...