Australia's Treasurer Jim Chalmers has ordered tighter monitoring of petrol prices after the fuel excise cut ended. He said prices have risen but remain substantially lower than before. This was reported by Qazaqyia.kz citing The Guardian.
End of excise cut
The Australian government temporarily reduced the fuel excise. This measure ended in early August 2026. Treasurer Jim Chalmers said the decision was never intended to be permanent.
Chalmers' statement
Chalmers spoke on RN Breakfast, saying prices have risen over the past month, but they are "substantially lower" than when the excise relief came into effect. He said the cut was "never intended to be permanent".
"Prices have come up a bit, but they are substantially lower than when we first introduced this excise relief. The excise relief has played a really important role in taking some of the edge off these cost of living pressures that have been turbocharged by a war in the Middle East"- Chalmers said.
"It was never intended to be permanent. … It's done a really important job, but we can't afford to continue it forever"- he added.
Preparing for price rises
Chalmers said the government hasn't been considering bringing the cut back if petrol prices climb again. He ordered tighter monitoring of petrol prices.
Public reaction
The decision has sparked mixed reactions. Some experts warn that the end of the excise cut could increase cost of living pressures. Others say the government took the measure to reduce the budget deficit.
Conclusion
The Australian government has ended the fuel excise cut and tightened monitoring of petrol prices. Treasurer Jim Chalmers said the decision was never intended to be permanent and that prices remain substantially lower than before. He also said he is not considering bringing the cut back if petrol prices rise again.