Explore the latest developments concerning Fuel price cuts.
The fuel excise rebate was originally set to expire on June 30. (ABC News)
The federal government is winding back its discount to the fuel excise over the next month.
The 32 cents per litre fuel discount will drop to 16 cents per litre, and the Heavy Vehicle Road User Charge will increase from free to 16 cents per litre.
Prime Minister Anthony Albanese has not ruled out extending the discount again.
The federal government is winding back its discount to the fuel excise, after three months of relief for motorists.
The 50 per cent discount, which has knocked 32 cents off each litre of petrol, will drop back to 16 cents between July 1 and August 2, before tapering off altogether.
SBS acknowledges the Traditional Custodians of Country and their connections and continuous care for the skies, lands and waterways throughout Australia.
Cost relief at the bowser has been extended for another month, although the savings won't be as substantial.
Prime Minister Anthony Albanese has announced a limited extension of the fuel excise, making petrol and diesel 16 cents per litre cheaper than the full price in July.
The current saving is 32 cents a litre after it was cut three months ago, following the outbreak of war in the Middle East and ensuing strangulation of global oil supplies.
That discount is scheduled to expire on 30 June, by which time it will have cost the federal budget an estimated $2.9 billion in foregone revenue.
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Fuel suppliers outside the Middle East have proved to be much more flexible than analysts expected – and China surprised everyone
Australians were warned soon after the Middle East conflict started that the country could run short on fuel, with prices rising to record levels owing to disrupted oil supplies.
Now, amid an uneasy peace deal and continued supply disruptions, petrol prices are lower than they were before the conflict began and official warnings over fuel usage have largely disappeared.
Why haven’t we run out of fuel? Why were we told to cut back? And what will happen now?
The US-Israel war on Iran closed the strait of Hormuz, through which about a third of the world’s crude oil travelled in 2025. Oil is refined into petrol, diesel and other fuel products.
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