"Albanese stated that the fuel excise would be cut in half from April 1 to June 30, reducing the cost of petrol by 26.3 Australian cents per litre, saving motorists nearly $19 on a 65-litre tank of fuel."
"Peter Khoury emphasized that the tax cut would make little difference as petrol prices had risen about 33 cents per litre in the past two weeks alone, attributing the price increase to oil prices rather than taxes."
"Khoury noted that the Australian economy relies heavily on diesel, as most foods and services are delivered by heavy vehicles that run on diesel, highlighting the broader implications of rising fuel costs."
Prime Minister Anthony Albanese announced a temporary halving of petrol and diesel taxes in response to rising crude oil prices, which have surpassed $116 a barrel. The tax cut, effective from April 1 to June 30, aims to alleviate financial stress for motorists, reducing petrol costs by 26.3 Australian cents per litre. Additionally, the government will suspend charges on heavy vehicles for three months. Despite the tax cut, experts warn that rising oil prices continue to drive costs higher, impacting the economy significantly.
Read at www.aljazeera.com
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