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The Australian government is unlikely to extend fuel excise relief as global oil prices rise due to tensions in the Middle East. Prime Minister Anthony Albanese indicated that while fuel prices may increase, the government is focusing on other budgetary measures.
Why it matters
The decision impacts the cost of living for Australian motorists and reflects the domestic economic consequences of international geopolitical conflicts.
The US-Israeli war with Iran will probably drive petrol prices above $ 2 a litre in the coming weeks, but the government has no plans to extend its fuel excise relief when it ends in a week.
Fuel excise relief for motorists is unlikely to be extended despite the war in the Middle East flaring up.
The Labor government halved the fuel excise for three months from April in response to rising prices as a result of the US-Israeli war with Iran, saving drivers 32 cents a litre on fuel.
The measure was extended for a further month in July, but at a reduced rate of 16 cents per litre.
The extension is due to lapse on 2 August.
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