Australian Petrol Prices to Hike as Albanese Government Refuses to Extend Fuel Tax Cut

Fuel nozzles rest in a fuel dispenser at a petrol station in Melbourne, Australia, on July 23, 2013. Scott Barbour/Getty Images

Australian Prime Minister Anthony Albanese has insisted on reinstating the full fuel excise tax in September while acknowledging that the country would face more inflationary pressures.

Citing budget pressures, the Labor government has rejected calls to extend the fuel excise tax reduction.