Australia Halves Fuel Excise Tax for 3 Months Amid Petrol Price Surge

The government will also cut the heavy vehicle road user charge to zero for three months.

Australian Treasurer Jim Chalmers (L) speaks to the media during a press conference as Prime Minister Anthony Albanese looks on at Parliament House in Canberra, Australia, on Feb. 28, 2023. AAP Image/Lukas Coch

Motorists are set for relief at the bowser after the federal government agreed to halve the fuel excise tax for three months as global prices surge amid the Middle East conflict.

Prime Minister Anthony Albanese said after National Cabinet on March 30 that the temporary measure would cut 26.3 cents a litre from prices at the pump, while also releasing its four-level fuel plan to manage demand.