Canberra, June 21 (QNA) - Australian Prime Minister Anthony Albanese announced a limited extension of the fuel excise cut, keeping petrol and diesel prices about 16 cents per liter lower than the full price in July. The current excise will be reduced from 32 cents to 16 cents per liter.
This measure follows a previous decision to cut the excise three months ago, after disruptions in global oil markets due to tensions in the Middle East, the Australian Special Broadcasting Service (SBS) reported.
That discount is scheduled to expire on June 30, by which time it will have cost the federal budget an estimated $2.9 billion in foregone revenue.
"This extra month of fuel discount will help Australian motorists and businesses with the cost of living as this support tapers off," Albanese told reporters, indicating that it will give some certainty amidst volatile global energy prices and ongoing pressure on Australian households. (QNA)