REGIONAL motorists are set to benefit from further fuel relief after states and territories agreed to forgo increased GST revenue on fuel, backing a new round of cuts aimed at easing pressure at the bowser.
The agreement, struck with the Albanese Government, will deliver another $400 million in relief through a further 10.9 per cent reduction in fuel excise for three months, equivalent to 5.7 cents per litre.
Combined with the previously legislated halving of the excise, the total reduction on petrol and diesel will reach 32 cents per litre.
The combined changes are expected to cut the cost of filling a 65-litre tank by nearly $23, with early signs already showing some easing in prices.
The move follows last week’s National Cabinet commitment by states and territories to return additional GST revenue generated by elevated fuel prices, with the excise cut seen as the fastest way to deliver relief.
Prime Minister Anthony Albanese said the measures were part of a broader effort to shield Australians from global price shocks, particularly in regional areas where driving is essential.
In an address to the nation last week, Mr Albanese said Australians were already feeling the impact. “I know that you’re seeing this at the servo and at the supermarket,” he said.
“And I understand farmers and truckies, small businesses and families are doing it tough.”
He said the conflict in the Middle East was driving the surge in fuel prices.
“The war in the Middle East has caused the biggest spike in petrol and diesel prices in history,” he said.
“Australia is not an active participant in this war, but all Australians are paying higher prices because of it.”
For communities across the Glasshouse Country and Maleny regions, where public transport options are limited, the relief is expected to be particularly important.
Mr Albanese said the government was also urging Australians to be mindful of fuel use as supply pressures continue.
“Think of others in your community, in the bush and in critical industries,” he said.
“That builds our reserves and it saves fuel for people who have no choice but to drive.”
He warned the situation would not be resolved quickly.
“The months ahead may not be easy,” he said.
“But I can promise we will do everything we can to protect Australia from the worst of it.”
The additional excise cut will apply from April 1 to June 30.
