Petrol could top $2 a litre by June as excise winds up
The Albanese government plans to remove a significant fuel discount by the end of June, which could lead to petrol prices exceeding $2 a litre. Treasurer Jim Chalmers confirmed that the 32¢-per-litre fuel excise and GST cuts will not be extended. Current petrol prices are around $1.85 a litre in major cities, but fluctuations in global oil prices could impact future costs.
- ▪The 32¢-per-litre discount on fuel will be removed at the end of June.
- ▪Unleaded petrol is currently selling for an average of about $1.85 a litre in Sydney and Melbourne.
- ▪The federal government previously announced a temporary three-month reduction in fuel excise.
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Excerpt limited to ~120 words for fair-use compliance. The full article is at The Sydney Morning Herald.