Australia will halve the fuel tax.
Reducing taxes lowers gasoline prices, allowing drivers to save money.
The Australian government has announced a temporary halving of the excise tax on petrol and diesel fuel as the global energy crisis deepens. Al Jazeera reported on this.
According to the country's Prime Minister Anthony Albanese, these measures will be in effect from April 1 to June 30 and are aimed at easing the financial pressure on the population due to rising energy prices.
According to the minister, the tax reduction will lower the price of petrol by 26.3 Australian cents (0.18 dollars) per litre and allow drivers to save nearly 19 Australian dollars (13 US dollars) when filling a 65-litre tank.
The decision was made as the price of crude oil rose above $116 per barrel, reaching its highest level in the past two weeks. It is noted that the sharp price increase is being caused by tensions against the backdrop of the US and Israel's war against Iran.
The Prime Minister emphasized that the government will also suspend charges for heavy goods vehicles for three months.
At the same time, as Australia imports nearly 80% of its refined fuel, global market fluctuations are having a significant impact on the country.
According to data from the competition regulator, by the end of March, diesel prices in the country's major cities had risen by 10% and petrol by 8%.
Peter Khoury, a representative of the Australian Automobile Association, stated that the tax concession would not significantly cover the overall increase in fuel prices. In his opinion, the main pressure comes not from the tax, but from the rise in oil prices on the world market.
Energy Minister Chris Bowen reported that panic buying in the country has led to some types of fuel running out at more than 500 petrol stations. At the same time, he stated that Australia is maintaining the stability of its energy supply and has reserves of 39 days' worth of petrol and nearly 30 days' worth of diesel and aviation fuel.
