PM Expands Fuel Relief With $1 Billion Loans, Extra Excise Cut From GST Windfall

Governments have agreed to use extra GST from higher fuel prices to cut the fuel excise by 10.9 percent.

Australian Prime Minister Anthony Albanese (L) speaks at a joint press conference with Trade Minister Don Farrell at Parliament House in Canberra, Australia on March 24, 2026. David Gray/AFP via Getty Images

Following a brief national address, Prime Minister Anthony Albanese has moved to flesh out his response, unveiling loans, fuel relief, and policy changes amid Australia’s petrol crisis.

Speaking at the National Press Club on April 2, outlined a new $1 billion interest-free loan program for manufacturers, freight operators, truck drivers, and fuel and fertiliser producers struggling with higher costs.