CANBERRA, ACT, June 22 -- The Treasurer of Australia issued the following media release:
The Albanese Government has today introduced new legislation to cut fuel taxes for another month to help take the sting out of petrol prices for Australian motorists and businesses.
This is about providing more responsible help with the cost of living because we know that while fuel prices have moderated, Australians are still under pressure.
This will cut fuel excise on petrol and diesel by 16cents per litre saving Australians around $11 on a 65 litre tank.
The excise cuts in the Treasury Laws Amendment (Fuel Excise Relief No.2) Bill 2026 will commence from 1July and run to 2August.
In addition, the Albanese Government will reduce the Heavy Vehicle Road User Charge by 16cents for the same period to help truckies keep Australia moving.
At National Cabinet the Prime Minister outlined the Commonwealth's onemonth extension to the fuel excise cut and reached agreement with First Ministers on continuing their contribution, on the same basis as the previous measure.
We welcome the agreement last week by the United States and Iran, including reopening the Strait of Hormuz, and it needs to be sustained.
This extension to the fuel tax cut recognises that economic and fuel stability recovery will take time, and our action provides a graduated return to normal settings for the fuel excise.
We'll continue to do what we can to shield Australians from the worst impacts of this conflict including securing additional fuel from our partners.
Despite the welcome and substantial drop in the price of petrol recently, we know people are still under pressure.
This extra month of fuel tax discount will help Australian motorists and businesses with the cost of living as this support tapers off.
Tapering off the fuel tax cut will also help manage demand at service stations towards the end of the month.
The cost of the extension to the fuel excise cut and the reduction in the Heavy Vehicle Road User Charge will be around $400million.
The additional relief we're providing means that from 1July, we'll have more temporary help with the cost of living in an extension to the fuel tax cut, and more permanent help with the cost of living in another round of tax cuts for every taxpayer.
Whether it's slashing the fuel tax, slashing the road user charge for truckies or tax cuts for every taxpayer, we're taking action to ease pressure on Australians.
Our economic plan is all about helping Australians with the cost of living, addressing inflation and making our economy more productive and extending the fuel excise is an important part of that plan.
Disclaimer: Curated by HT Syndication.
