Coalition proposes automatic fuel tax cut during price spikes
Opposition proposes automatic 27 cent per litre fuel tax cut when crude oil exceeds $US100 a barrel.
Fuel prices in Australia now match or exceed levels from recent global conflicts. Global conflicts disrupted Gulf shipments.
Diesel costs hover near three dollars per litre. Prices could reach four dollars if global unrest continues.
The federal opposition proposes the Fuel Price Shield. It would automatically cut 27 cents per litre in fuel tax.
This cut happens when crude oil averages more than $US100 a barrel. The policy would also cut the heavy vehicle road user charge to zero.
This offers relief to freight operators. The cut would be funded by planned changes to tobacco excise.
Once global prices return to normal, the standard fuel tax rate returns automatically. This protects the long-term budget.
- 27 cents per litre
- Fuel tax cut
- Around $3 per litre
- Diesel price now
- About $15
- Typical tank savings
Why it mattersA fuel tax cut would free up household money during inflation and automatically respond to global price shocks without ongoing political intervention.
AustraliaAustralian families and small businesses could save money on fuel and transport costs if the Coalition's plan is adopted.
✓ Claims checked against the source. checked 2 h ago
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