Australia Slashes Fuel Excise Tax by Half for Three Months Amid Global Price Hikes

Canberra. Amid fuel shortages and price increases due to the war in Ukraine, Australia has announced it will halve the excise tax on fuel for three months to provide relief to the general public. This measure is expected to remain in effect until the end of June. The government has decided to reduce the tax on petrol by 26.3 cents per liter. This is expected to directly reduce consumer costs when refueling at petrol pumps.

Australian Prime Minister Anthony Albanese stated on social media on Monday, 'We are halving the fuel tax for three months so that you can feel some relief when you fill up with fuel.'

He also mentioned that price increases in the domestic market are due to international conflict, putting pressure on citizens. Due to the sharp rise in fuel prices, some Australian states have also taken further steps. Victoria and Tasmania have temporarily made public transport free to encourage a reduction in the use of private vehicles.