Securing Australia’s fuel supplyMore News

The ongoing conflict in the Middle East is having an impact on economies around the world and Australia is not immune from that. That’s why our Government is focused on practical action to shield Australians from the worst of this global conflict, including halving the fuel tax for three months, securing supply and doubling penalties for petrol price gouging.

The halving of the fuel excise will reduce the cost of fuel by 26.3 cents per litre.

This will reduce the cost of a 65L tank of fuel by nearly $19.

The spike in fuel prices as a result of the war in the Middle East is hurting Australians and causing financial stress. This will help to provide some relief.

The halving of the fuel excise will commence from April 1 and run to 30 June.

Further, the Albanese Government will reduce the Heavy Vehicle Road User Charge to zero for three months to help truckies continue their vital work for our nation. The Government will also defer the next scheduled increase in the Heavy Vehicle Road User Charge by six months.

Australians are encouraged to use public transport wherever possible to help conserve fuel for the regions, and we welcome existing moves to cut the costs of public transport.

The Australian Competition and Consumer Commission (ACCC) will continue to monitor fuel prices to help ensure that the lower excise rate is fully passed on at the bowser.

While Australia’s fuel supply outlook remains secure in the near term because of the actions the Albanese Government has taken, the longer this war goes the worse the impacts will be.

The Albanese Government has:

• Halved the fuel tax for three months
• Passed new laws to double the penalties for petrol price gouging
• Reduced the heavy vehicle road user charge to zero for three months
• Introduced laws to secure the purchase of new fuel from international markets
• Released some of Australia’s fuel reserves
• Temporarily changed petrol and diesel standards to get more fuel flowing
• Worked with international partners to keep fuel supply flowing
• Appointed a National Fuel Supply Task Force Coordinator

The Australian Government will be announcing more measures to prepare the nation for supply chain challenges over coming days and weeks.