00:00Aussie drivers are being warned to fill up now, with petrol prices expected to rise from
00:04July 1st as the government winds back its temporary fuel tax relief.
00:09The fuel excise reduction introduced earlier this year will be cut in half from 32 cents
00:15per litre to 16 cents, meaning motorists are likely to see higher prices at the bowser
00:20from midnight.
00:21If you're going into regional areas it will take longer, sometimes a week, two weeks longer
00:25because what they're going to do is they're going to have to sell all the fuel that's
00:28currently in their tanks, and then when they get the new supply, the new prices, then they'll
00:33put their prices up as well.
00:34So it depends on where you fill up, could be overnight, could be longer.
00:37The competition watchdog said it expects fuel companies to pass on the reduced excise properly,
00:42and warned it would investigate misleading pricing or anti-competitive behaviour.
00:48Treasurer Jim Chalmers said fuel prices had fallen sharply in recent weeks, with petrol
00:53and diesel in many parts of Australia now sitting below levels seen before conflict in the
00:58Middle East disrupted global markets.
01:01The Government has extended fuel relief into July at a reduced rate, with the 16-cent discount
01:07expected to save motorists about $11 per tank compared to normal excise settings.
01:13The lower fuel tax and trucking relief measures will remain in place until August 2nd, as the
01:19Government continues to frame the policy as targeted cost-of-living support.
01:23That fuel tax relief, which gets extended from tomorrow, is only one of a whole range of cost-of-living
01:29measures that come in from tomorrow, the 1st of July.
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