Petrol prices set to jump after fuel tax change
Australian motorists are expected to pay more at the pump from Sunday, with the temporary 16-cent-per-litre fuel excise discount coming to an end.
Experts say petrol prices could increase by 17 to 18 cents per litre, adding around $9 to a 50-litre tank and about $11 to a 65-litre fill-up.
Transport experts expect many drivers to top up their tanks before the price rise takes effect. However, motorists are being advised to avoid panic buying and only refuel if needed.
The fuel tax cut, introduced in April to ease pressure from rising global oil prices, was extended by one month after instability in the Middle East disrupted energy markets. The federal government has now confirmed the measure will end, saying it is focusing on longer-term cost-of-living support instead of extending the temporary relief.
Global oil prices remain volatile due to ongoing conflict in the Middle East, with higher shipping and insurance costs also expected to put further upward pressure on fuel prices in the weeks ahead.
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Source : 9 News
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