The new deputy PM said there was no extension to cut fuel excise

The new Labor federal government has said it will not extend the fuel-excise 6-month cut announced at the end of March this year, which is currently set to expire at the end of September.

Deputy Prime Minister Richard Marles spoke at the Seven Network’s breakfast show Sunrise This morning, the statement:

“We have cleared our position and it is not our intention to change that [temporary cut]”

The previous Morrison federal government reduced petrol and diesel excise duty by 22 cents per liter – conveniently at the door of an election campaign – in a move designed to reduce record fuel prices.

Flipside Hall tax cuts nearly $ 3 billion excise denied to government coffers – most were allocated to land transport projects.

The ACCC Consumer Watchdog later reported that the cut was being passed primarily by fuel retailers.

The average price of 91 RON petrol is currently hovering around $ 2 per liter nationwide, while diesel is even higher – the last point emphasizing the price of everything supplied by freight products.

Crude oil prices are currently hovering around US 10 110 per barrel, lower than the March spike but below $ 70 per barrel this time last year. The war in Ukraine is cited as a key driver.

“We think there are other ways we can address the cost of living. This is a big problem, people are finding it difficult to meet the end, “said Mr Marles.

“It simply came to our notice then [up] The main game. Even doing practical things like making childcare more affordable is a really important step in trying to deal with the cost of living.

“But we did not suggest for a moment that we could repair everything overnight. You’ve lost a decade of productivity. You can’t fix it in a week. But you can start the project and we are starting it now and we will take the country on the path to prosperity. “

More: The government has halved fuel excise for six months
Further: Reducing fuel excise has already reduced petrol prices, the ACCC says.

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