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Australia Cuts Fuel Tax in Half as Middle East War Squeezes Supply
The Australian government will cut petrol and diesel tax by 26.3 cents per litre, saving motorists nearly $19 on a 65-litre tank and spending $2.55 billion to ease cost pressures.
- On Monday, Prime Minister Anthony Albanese announced the Federal Government will halve fuel excise and eliminate heavy vehicle road user charges for three months, lowering petrol and diesel costs amid supply pressures.
- Rising global fuel price volatility linked to international conflict prompted the intervention, following demands from the Coalition last Friday to address significant financial strain on the transport sector.
- Starting April 1, the $2.55 billion package reduces fuel prices by 26.3 cents per litre, with Treasurer Jim Chalmers noting a $19 saving for a standard 65-litre tank.
- State and territory leaders agreed to a four-stage National Fuel Security Plan to manage supply, with Australia currently at level two, 'keeping Australia moving,' to coordinate regional fuel distribution.
- Treasurer Jim Chalmers expects the relief to reduce headline inflation by half a percentage point throughout the year, helping households manage cost-of-living pressures amid global economic instability.
92 Articles
92 Articles
Australian Prime Minister Anthony Albanese announced that the government would cut fuel taxes by half to help people facing soaring fuel prices due to the war in the Middle East.
Australia Halves Fuel Excise Tax for 3 Months Amid Petrol Price Surge
Motorists are set for relief at the bowser after the federal government agreed to halve the fuel excise tax for three months as global prices surge amid the Middle East conflict. Prime Minister Anthony Albanese said after National Cabinet on March 30 that the temporary measure would cut 26.3 cents a litre from prices at the pump. “We’re acting now to be over prepared, to prepare and to shield Australians from the worst of the impacts,” he told r…
Australia Cuts Fuel Tax in Half as Middle East War Squeezes Supply
Australia is halving the fuel excise on gasoline and diesel for three months in a bid to alleviate financial stress from spiking fuel prices, the government said on Monday. The measure would reduce the cost of filling up a tank by about US$13, or AUS$19, according to the government, which has taken several measures to protect fuel supply and consumers from price shocks since the war in the Middle East began a month ago. Alongside the halving of …
Relief for struggling motorists as government slashes fuel tax
After weeks of pressure over surging petrol prices, the federal government has cut the tax on fuel in half. It's a three-month measure costing the budget billions, as the Prime Minister steps out a four-part plan to respond to the conflict.
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