Overview
- The Albanese government confirmed on Saturday that the temporary fuel excise discount will continue from July 1 to August 2 but is reduced from 32¢ a litre to 16¢ a litre and the Heavy Vehicle Road User Charge will be reinstated at 16¢ a litre.
- The one‑month taper is estimated to cost about $400 million in foregone revenue compared with the earlier three‑month 32¢ cut that cost roughly $2.5–$2.9 billion.
- Energy Minister Chris Bowen says Australia has robust supplies with about 44 days of petrol, 39 days of diesel and 32 days of jet fuel and that 51 tankers carrying a contracted 3.9 billion litres are en route.
- The government and Treasurer Jim Chalmers framed the move as a managed wind‑down to avoid another wave of panic buying and announced the ACCC will keep monitoring wholesale discounts to ensure motorists see the saving at the bowser.
- Officials noted recent falls in oil prices after a US–Iran agreement but warned uncertainty over the Strait of Hormuz and lingering supply disruption could persist for months and influence future decisions.