On Monday, March 30, Prime Minister Anthony Albanese announced Australia’s fuel excise tax would be halved from April 1 to June 30. This brought the price of fuel down by 26.3 cents per litre. A fuel excise is the flat rate tax added to the petrol bought at the bowser, so for every litre of petrol, a person was paying up to an extra 52.6 cents a litre.
This fuel excise cut has seen prices around Greater Shepparton slow their rise, with Unleaded 91 averaging from around $2.20 to $2.50 per litre, and diesel averaging $3.18 at the time of publishing.
The Australian Institute of Petroleum’s weekly report on prices across the country shows that across regional Victoria, in the week ending April 5, we experienced a 13.1 cents decrease in price per litre.
However, with international conflict still blocking the crucial trade route of the Strait of Hormuz, there is no immediate relief in sight for these steep petrol prices.
