With the fuel excise halved, when will petrol and diesel prices drop in Australia?
The Australian Government will halve the fuel excise on petrol and diesel for three months to provide relief from high fuel prices. The reduction will commence on April 1 and run until June 30, and is expected to reduce the cost of a 65L tank of fuel by nearly $19.
The Australian Government has announced a reduction in fuel excise to help alleviate financial stress caused by high fuel prices. The fuel excise on petrol and diesel will be halved for three months, starting from April 1. This reduction is expected to decrease the cost of fuel by 26.3 cents per litre. The government has also reduced the Heavy Vehicle Road User Charge to zero for three months. Australians are encouraged to use public transport to conserve fuel. The Australian Competition and Consumer Commission will monitor fuel prices to ensure the lower excise rate is passed on to consumers.
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