Australia to halve fuel excise for three months

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Australian Prime Minister Anthony Albanese has announced a temporary 50% cut to the fuel excise due to soaring petrol prices driven by conflict in the Middle East. Communicating the decision via a post on X, the Prime Minister highlighted the necessity of the intervention as global instability pushes domestic costs toward record highs.

The tax, which currently sits at 52.6 cents per litre, will be slashed by 26.3 cents starting this Wednesday. This $2.55 billion relief package is designed to provide immediate ‘breathing space’ for households as global instability pushes domestic petrol prices toward record highs.

‘Conflict overseas is pushing up prices at home. And we know Australians are feeling the pressure,’ the Prime Minister stated on X.

Addressing the nation from Canberra, Albanese reinforced this sentiment, saying, "We are making fuel cheaper today because we understand that Australians are under serious pressure."

Additionally, the states of Victoria and Tasmania have taken the decision to make public transport free in order to discourage people from driving due to high fuel costs. As the Prime Minister noted, "The less fuel we use in the cities, the more we can redirect to regional areas that are under pressure." This coordinated national effort highlights the urgency of the current energy crisis.