State premiers are demanding a temporary cut to the fuel excise to help struggling consumers. The excise raises about $20-billion a year for road and transport infrastructure. The fuel excise is a flat tax levied by the Australian government on petrol and diesel bought at the bowser. It's indexed to inflation. The excise is about one fifth of the price at the bowser.
Rising fuel costs prompt calls for government to reduce excise - but would that help?
A man pumps petrol at a service Monday, Aug 27, 2012. (AAP Image/Julian Smith) NO ARCHIVING Source: AAP
Global oil prices are skyrocketing amid the fighting in Ukraine, leading to record fuel prices in Australia. There are calls for the government to cut the fuel tax, just two weeks out from the federal budget.
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