Australia Extends Fuel Excise Cut by One Month

Australia. The Australian government has announced an extension of the fuel excise duty cut period by one more month. Prime Minister Anthony Albanese issued a statement on Sunday stating that the fuel excise duty exemption of 16 cents per liter will remain in effect from July 1 to August 2.

The current exemption of 32 cents per liter will be halved during that period, and after August 2, the full excise duty rate of 52.6 cents per liter will be reinstated. To mitigate the impact of the global oil crisis and rapid increase in fuel prices caused by the conflict in the Middle East, the Australian federal government had cut the excise duty by 26.3 cents per liter for three months starting April 1.