The Federal Government has announced an extension of the fuel excise cut at 16 cents per litre from July 1 to August 2.
ACAPMA had been calling for a stepped reintroduction of the fuel excise to avoid heightened consumer demand prior to June 30 and any possible consequential market distortions.
The ACCC will continue monitoring fuel prices to ensure the excise reduction is fully passed on at the bowser.
Retailers are encouraged to maintain accurate records of their inventory and their pricing so they can demonstrate, if required, that they have passed through the fuel excise in full.
As part of the fuel excise cut extension, the Heavy Vehicle Road User Charge will also be reduced by 16 cents.
Energy Minister, Chris Bowen also announced that Australia had a stockpile of 44 days of petrol and 39 days of diesel claiming this is the second highest fuel stockpile since 2023.
ACAPMA
