CANBERRA, ACT, June 21 -- The Prime Minister of Australia issued the following media release:
The Albanese Government will extend fuel excise relief for another month, making petrol and diesel 16 cents per litre cheaper versus normal prices for July, saving Australians around $11 per tank.
This is more temporary support that will help take the sting out of petrol prices and help Australians with the cost of living.
In addition, the Albanese Government will reduce the Heavy Vehicle Road User Charge by 16 cents for the same period to help truckies keep Australia moving.
We acknowledge the contribution of the States and Territories to use their GST revenue to fund a 5.7% portion of the fuel excise cut over the last three months and will seek support from the states for July at National Cabinet on Monday.
We welcome the agreement this week by the United States and Iran, including reopening the Strait of Hormuz.
The extension to the fuel excise cut we've announced today 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 recognise people are still under pressure.
This extra month of fuel discount will help Australian motorists and businesses with the cost of living as this support tapers off.
We announced a three-month cut to the fuel excise of 32 cents per litre back in March alongside reducing the Heavy Vehicle Road User Charge to zero and deferring the next scheduled increase by six months.
The 16 cents a litre extension to the fuel tax cut that we've announced today will reduce the cost of a 65L tank of fuel by around $11.
On top of our other cost of living help including more tax cuts for every taxpayer, this will make a meaningful difference when it comes to helping Australians make ends meet.
This cut will commence from 1 July and run to 2 August.
That means that from next month, 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, both beginning on July 1.
By tapering off the fuel tax cut, this will also help to 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 $400 million.
We're slashing the fuel excise and the road user charge for truckies and we expect the savings to be passed on to Australians.
The Australian Competition and Consumer Commission (ACCC) is continuing to monitor fuel prices to help ensure that the lower excise rate is fully passed on at the bowser, backed by stronger penalties and additional enforcement resourcing.
In addition to today's announcement, since the conflict in the Middle East began in February, the Albanese Government has taken swift action on fuel including:
* Allocating $2.9 billion to more than halve the fuel excise and reduce the heavy vehicle road user charge to zero for three months from 1 April to 30 June.* Creating the $7.5 billion Fuel and Fertiliser Security Facility supporting additional supply and storage* Boosting the Minimum Stockholding Obligation for all fuel types* Providing $3.2 billion to establish the Australian Fuel Security Reserve and bring our total stocks of diesel and jet fuel to 50days* Securing nearly 800 million litres of diesel and 150 million litres of jet fuel through Export Finance Australia* Legislating new ACCC powers to enable faster, coordinated industry responses during exceptional circumstances* Releasing $1.1 billion in support for domestic production of low carbon liquid fuels* Providing over $80 million to roll out more kerbside and regional EV chargers and electrify Australia Post's delivery fleet* Fair Work Commission Fuel Cost Recovery Chain Order, which came into effect on 21 April 2026, facilitating the ability of road transport businesses to pass on increased fuel costs through the contractual chain* $1 billion Economic Resilience Program under the National Reconstruction Fund, providing zero‑interest loans to eligible SMEs, including heavy vehicle operators* ATO support measures, including extended debt repayment arrangements for businesses facing fuel‑related financial pressures
Since the end of March, petrol prices in most capital cities are around 90 cents per litre lower and diesel prices in most capital cities are around $1 per litre lower. Since the conflict started at the end of February, petrol prices are lower in almost all capital cities and diesel prices are on average around 20 cents per litre higher.
Today's decision recognises that although fuel prices have moderated significantly from their peaks, people remain under cost-of-living pressure.
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.
