Coalition vows to halve fuel excise when global prices spike under new policy

Angus Taylor says the Coalition's fuel policy will save motorists money at the bowser. ( ABC News: Matt Roberts )

The opposition is proposing to cut the fuel tax in half when global prices hit $US100 over two weeks.

The Coalition says it will fund the measure through $8 billion generated from its planned cuts to the tobacco excise.

Treasurer Jim Chalmers dismissed the policy and said the government was not considering any future cuts to the fuel excise.

Link copied Share Share article The opposition is promising to cut fuel costs when global prices spike, saying the measure would slash about $15 off the average tank of petrol.

Under the policy announced today, the Coalition said it would halve the fuel excise when the global price of Brent crude oil averages $US100 a barrel over two weeks.