SYDNEY, March 28 (Xinhua) -- The Australian government will underwrite the purchase of essential products affected by the conflict in the Middle East under new fuel security measures announced by Prime Minister Anthony Albanese on Saturday.

Albanese and Chris Bowen, the minister for energy, told reporters in Sydney that the government will on Monday introduce legislation to the federal parliament that will allow the existing export credit agency to underwrite the purchase of fuel, fertilizer and other essentials by the private sector.

"Put simply, we will use Export Finance Australia to underwrite the purchase of shiploads of fuel that will add to supply here in Australia," Albanese said.

"This support from the government will not be business as usual: it has to be additional supplies that are available on the international market."

He said that the new measures would mitigate the financial risk for importers who secure additional supply.

It comes amid soaring fuel prices across Australia and widespread shortages in regional areas.

Bowen said that Australia had 39 days of petrol, 30 days of diesel and 30 days of jet fuel in the national stockpile as of Saturday. ■