Australian Petrol Prices to Hike as Albanese Government Refuses to Extend Fuel Tax Cut
Australian Prime Minister Anthony Albanese has insisted on reinstating the full fuel excise tax in September while acknowledging that the country would face more inflationary pressures.
Citing budget pressures, the Labor government has rejected calls to extend the fuel excise tax reduction.
Previously, the former Coalition government halved the fuel excise tax for six months in March to deal with surging fuel prices.
As the tax cut is due to expire on Sep. 29, petrol prices are likely to soar at the end of the month.
The prime minister said that it was a “difficult decision.”
“If prices rise … of course, it has an impact, but that has been factored in, of course, by the economic analysis, which has been done,” he told ABC radio….