Labor rejects Coalition fuel shield as petrol hits $2.30 a litre
Finance Minister Katy Gallagher ruled out cutting fuel excise, calling the Coalition's automatic cut proposal an unfunded promise.
The Coalition proposed automatically halving the fuel excise whenever crude oil tops $100 a barrel for two weeks, which would save motorists 27 cents a litre. Labor's Finance Minister rejected the plan as unfunded and uncosted.
Petrol prices have surged to up to about $2.30 a litre in Australia's major cities as conflict in the Middle East disrupts oil shipments. Brent crude oil is trading near $104 a barrel, approaching its May peak of $114.
Labor said it prefers to deliver permanent cost-of-living support through the tax system rather than temporary excise cuts. The Coalition says its policy would be fully funded by cutting tobacco excise by 80 per cent.
- $2.30 per litre
- Petrol price
- $104 per barrel
- Brent crude
- 27 cents per litre
- Proposed savings
- $100 per barrel for two weeks
- Oil trigger price
Why it mattersThe government's choice to reject excise relief means motorists will bear high petrol costs longer, shaping a key cost-of-living debate heading into the election.
AustraliaAustralians paying high petrol and diesel prices have no immediate government relief; policy outcome depends on who wins the next federal election.
✓ Claims checked against the source. checked 4 d ago
