The fuel excise cut is due to end at midnight. This is what you can expect at the pump
The Australian federal government is ending its fuel excise cut, which will lead to higher petrol prices for consumers. The measure, originally implemented to provide cost-of-living relief during an oil supply crisis, is being phased out despite ongoing market volatility.
Why it matters
The end of this subsidy directly impacts household budgets and reflects the government's attempt to balance economic relief with fiscal responsibility.
The excise cut was designed to "take some of the sting out of the cost-of-living pressures", the Treasurer said. ( ABC News: Adam Griffiths )
Link copied Share Share article Drivers can expect a price increase at the petrol pump following the end of the federal government's fuel excise cut from midnight tonight.
At the same time the rate will also undergo its twice yearly inflation indexation.
From April 1 the fuel excise was reduced from 52.6 cents a litre to 20.6 cents a litre, a 32 cents per litre discount to wholesale fuel prices which was due to end in July.
The support measure was then extended to August 2. However, the excise rate was lifted to 36.6 cents a litre, meaning the discount at the pump was reduced to 16 cents a litre.
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