CANBERRA, ACT, April 2 -- The Prime Minister of Australia issued the following media release:
Today the states and territories agreed to work with the Albanese Government to forgo increased GST revenue on fuel transactions, locking in more relief for motorists.
This will provide another $400 million of fuel relief and will be delivered through additional 10.9 per cent cut to the fuel excise for three months, which is a further 5.7 cents per litre cut.
Combined with the halving of fuel excise already legislated by the Government, the total reduction in excise on petrol and diesel will be 32 cents per litre.
This relief is already starting to show up in petrol prices and we expect more to flow through in the next one to two weeks.
This i...