Fuel tax will be slashed AGAIN as Anthony Albanese’s first cut starts paying off at the pump

Prime Minister Anthony Albanese has announced a further cut to the fuel excise after state and territory leaders agreed to pass on the GST windfall to motorists at the bowser.

The fuel excise has been slashed by an additional six cents a litre, just one day after the government halved the excise to 26.3 cents a litre for the next three months.

‘This will mean a combined saving of 32 cents on every litre,’ Albanese told the National Press Club on Thursday, prompting applause from the crowd.

‘The Treasurer, Jim Chalmers has already signed that change into law because we want this added relief to start showing up at petrol stations straightaway.

‘For our truckies, we’re cutting the heavy vehicle road user charge to zero.

‘We’ve taken unprecedented action to underwrite industry and bring shiploads more fuel and fertiliser to Australia.

‘We’ve changed the law, so that all the fuel made in Australian refineries stays on shore.

‘We have given the ACCC new powers to crack down on petrol stations that do the wrong thing by their customers.

‘And we will pursue every option to ensure that increases that might be there in coal and gas prices do not flow into electricity prices.’

The average price of fuel in all eight capital cities across Australia has dropped in the last two days after the federal government halved the excise.

Despite warnings that it may take days for petrol stations to pass on the price cut, many motorists are already paying less.

In Sydney, the average price for unleaded fuel has fallen from 257 cents a litre to 236 since Tuesday, according to government data.

Diesel has dropped from an average 321 cents a litre to 305.

The excise cuts has seen Perth replace Darwin as the most expensive capital city for unleaded fuel and diesel.

Adelaide is the cheapest capital for unleaded while Hobart has the least expensive diesel.

Opposition Leader Angus Taylor delivered a nationally televised speech on Thursday night, sharply criticising Prime Minister Anthony Albanese for ‘fuelling confusion’ and failing to show leadership as Australia’s fuel crisis deepens.

Taylor’s address was the Coalition’s formal response to Albanese’s recent national broadcast, which itself was slammed for leaving Australians anxious and uncertain about the fuel supply outlook.

Taylor’s speech argued that the crisis, now into its sixth week, had exposed the Albanese government as slow to act, secretive and reactive.

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Treasurer Jim Chalmers applauded the ACCC for serving notices to fuel companies caught charging exorbitant amounts to deliver fuel to remote areas.

‘Anyone who seeks to use the conflict in the Middle East to rip off Australians will have the book thrown at them,’ he said.

‘No matter what they’re selling or where they’re selling it, businesses must not exploit the conflict in the Middle East and make false claims about the effect of fuel prices.

‘We won’t cop big corporates treating Australian consumers like mugs.

‘We’re empowering the ACCC to crack down with $100m fines for companies that exploit this global crisis to rip off Australians.’

Australian shares have tumbled after US President Donald Trump claimed his military campaign in the Middle East was nearly complete.

During Trump’s low energy address to the nation on Wednesday night (12pm Thursday AEDT) in the White House, he challenged US allies to go and ‘take’ the Strait of Hormuz – or buy oil from the Americans – as he washed his hands of that portion of the conflict.

The S&P/ASX 200 Index climbed as much as 0.4 per cent in the morning session, however sharply fell after oil prices spiked following Trump’s speech.

Oil prices soared above $US107 by the ASX close, with the Australian dollar now buying 68.79 US cents.

‘I have a suggestion. Number one, buy oil from the United States of America, we have plenty, we have so much,’ Trump said in his address.

‘And number two, build up some delayed coverage – should have done it before, should have done it with us as we asked – go to the Strait and just take it.’

The Australian Competition and Consumer Commission (ACCC) has warned fuel retailers to pass on all fuel excise cuts as quickly as possible, after several retailers who’d imposed ‘sizeable’ fuel surcharges for deliveries to remote areas were served notices on Thursday.

The ACCC said retailers must pass on the full fuel excise after it was announced on Thursday that a further 5.7 cents per litre, in addition to the cut in fuel excise of 26.3 cents per litre, would be introduced.

‘We are pleased to see that already several retail sites have dropped fuel prices and passed on savings to customers in response to the initial cut in fuel excise on 1 April,’ ACCC Chair Gina Cass-Gottlieb said.

Ms Cass-Gottlieb confirmed several businesses operating across South Australia, Western Australia, Queensland and the Northern Territory have now been issued with notices that required them to justify the ‘fuel surcharges’ they imposed.

The businesses have three weeks to respond to the ACCC.

‘We have seen an increase in complaints from consumers and small businesses about the introduction or increase of fuel surcharges, including surcharges of more than 70 per cent imposed on small businesses servicing remote communities,’ she said.

‘The ACCC will take appropriate action against breaches of Australian Consumer Law, such as misleading consumers about surcharges.’

Consumers or small businesses are encouraged to report concerns about businesses imposing large fuel surcharges to the ACCC.

While much of the Prime Minister’s address to the National Press Club on Thursday focused on the fuel crisis, Anthony Albanese also announced the government will introduce new restrictions on gambling advertisements.

The measures include a daytime cap on TV gambling ads to no more than three ads each hour between 6am and 8.30pm, a ban on radio gambling ads during school drop-off and pick-up times, and a ban on gambling ads through online platforms, unless the user has an account, is over the age of 18 and has the option to ‘opt-out’ of gambling ads.

Celebrities and sports players will no longer be allowed to feature in gambling ads, alongside ‘odds-style’ ads which target sports fans.

Gambling ads in sports venues and on players’ uniforms will also be banned.

The reforms are expected to come into effect from January 1, 2027.

‘We’re getting the balance right here, letting adults have a punt if they want to but also making sure Australian children don’t see betting ads everywhere they look,’ Albanese said.

‘What we don’t want is kids growing up thinking that footy and gambling are the same thing.’

It comes nearly three years since the government received a committee report, led by the late Labor MP Peta Murphy, which recommended gambling advertisements be outlawed altogether.

The reforms have received a mixed response, with many calling for the Albanese government to introduce tougher measures.

On Thursday afternoon, the Greens spokesperson for communications, Senator Sarah Hanson-Young accused Albanese of caving to the gambling lobby.

‘This proposal is riddled with loopholes that will benefit the gambling companies and allow them to continue their insidious targeting,’ the SA Senator said.

“Online platforms are now the frontline of gambling promotion, with younger Australians increasingly exposed. The only way to tackle this insidious industry head-on is with a complete ban on gambling ads.

‘The Greens will work through the details when we see the legislation and push for the protection Australian families deserve – but this announcement today doesn’t touch the sides.’

While the Opposition appeared to steer clear of explicitly calling for tougher measures, Shadow Minister for Communications Sarah Henderson said the detail of the Government’s proposal would be critical.

‘We will carefully assess this announcement to determine whether it delivers genuine reform or simply more headlines,’ Senator Henderson said.

‘We have particular concerns about how a ban on online gambling advertising for under-18s will work in practice and whether it will be properly enforced.’

Prime Minister Anthony Albanese has played down widespread calls for Australia to bolster its fuel reserves to hold 90 days worth of fuel.

‘We certainly will consider what we can to increase our fuel security – we’ve been doing that,’ Albanese said at the National Press Club address on Thursday.

‘So we’ll consider all those measures, but in a practical way going forward as well.’

When asked by a reporter about Labor’s previous pledge ahead of the 2019 election to increase reserves to 90 days, Albanese replied: ‘That was a long time ago, we’ve moved on.’

‘We’ll continue to examine what is the best policy to further increase that security,’ he added.

‘There’s a range of measures, there’s biofuels, a range of new technologies as well that can add to our security.’

As a member of the International Energy Agency (IEA), Australia is obliged to hold at least 90 days worth of fuel.

However, Canberra doesn’t have a strategic stockpile, with oil companies instead required to maintain a ‘minimum stock holding’ of emergency reserves.

As of March 24, Australia had 39 days of petrol, 30 days of diesel, and 30 days of jet fuel left.

In comparison, Japan and South Korea currently hold over 200 days of stock, Thailand has 95 days of reserves, and countries such as the United Kingdom, Spain and Italy reportedly 90 days of supplies.

Energy Minister Chris Bowen previously said it would be too expensive to bolster Australia’s fuel reserves to 90 days.

’90 days is not how much petrol is used,’ he told the 7am Podcast last week.

‘It’s a 90-day import days, and they can be held anywhere and it’s not for domestic supply. It’s to be able to sell it if things get rough and the IEA asks us to.

“Now, we don’t comply with that. But if we did try to keep 90 days’ worth in Australia, that would cost $20 billion over four years… that’s $20 billion we’re not spending on schools, hospitals or anything like that. So that’s a big, big call.’

Truck drivers have cautiously welcomed further fuel excise cuts while still calling for the diesel tax to be suspended entirely.

The fuel excise was slashed by an additional six cents a litre on Thursday after state and territory leaders agreed to pass on the GST windfall to motorists at the bowser.

It comes one day after the Albanese government halved the excise for the next three months, which will now save Aussies 32 cents a litre.

Leading freight marketplace Loadshift welcomed the further excise cuts, along with scrapping the heavy vehicle road user charge and opening NSW roads to bigger trucks.

But executive chairman Matt Barrie says it is not enough.

‘Let’s be honest about what 32 cents actually means when drivers are paying north of $3 a litre,’ he said.

‘In parts of Western Australia, it’s over $3.60. The full excise on diesel should go, not just half of it. And the GST on diesel should be suspended entirely – not just the windfall bit.

‘You’re still taxing a resource that hundreds of servos have run out of.’

Truckies also slammed the low-cost loan initiative announced by Albanese for businesses affected by the fuel supply crisis

The loans will be distributed as part of the government’s existing $1billion economic resilience program in the National Reconstruction Fund.

Albanese said that the loans will be critical to getting not just the businesses, but the wider economy, through the crisis caused by the fuel shocks.

Mr Barrie said that trucking operators want faster fuel tax credit processing, rather than more debt on their books.

‘None of it matters much if there’s no diesel to actually buy,’ he continued.

‘We had a carrier stuck twice on a single Perth-to-Melbourne run last week because servos had run dry.

‘The average heavy haulage load in this country travels about 1,450kms.

‘You’re burning roughly 750 litres of diesel to do that. Pre-war, that cost about $1,200. Right now it’s over $2,300. The 32 cent cut saves you maybe $240 on that load.

‘It’s not nothing, but when your costs have nearly doubled and your customers are cancelling jobs because they can’t afford the freight increases – it’s not going to save anyone’s business.

‘We need the full excise and GST off diesel until this is sorted.’

Anthony Albanese has hit back at widespread backlash over his address to the nation on Wednesday night.

During a Q & A session at the National Press Club on Thursday, journalist Ellen Ransley referenced a comment posted online which ‘tapped into the national mood’.

‘Hello Prime Minister, please reserve these addresses to the nation for things of importance such as a declaration of war and announcement of a pandemic or lockdowns or something of national significance,’ she read out.

‘Reassurance for the public can be done as a social media campaign or a press conference.

‘Being told hours in advance that our national leader is going to address us on our television sets at a predetermined time slot can cause a lot of anxiety for people thinking that it’s going to be something dire.’

Ransley then recalled the anxiety and panic from Aussies following the late-morning announcement from the PM’s office.

‘For eight hours yesterday, we heard people were going out to the bowser, fearing fuel rationing, preparing to work from home. There was a lot of anxiety in the community in that eight-hour window,’ she continued.

‘Do you accept that in trying to quell fears and calm people down, it did inadvertently cause some panic?’

Albanese defended his speech, insisting that he needed to address Australians directly.

‘The truth is that the demand spike in fuel had occurred and was continuing to occur. There hasn’t been a single ship that was due to arrive in Australia in March that had not arrived,’ he replied.

‘In addition to that, what we had done by changing the fuel standards for both diesel and petrol meant there was more supply than there otherwise would be. And the 20 per cent release of the reserves meant there was more supply on top of that.

‘So quite clearly, there was an issue that we needed to deal with. I will take every opportunity to talk directly to the Australian people, because that is showing them respect.

‘I respect everyone’s right to have a comment and a view, but a social media post didn’t stop, in some cases,100 per cent increase in demand for fuel that had occurred, even though that information had been out there very directly.’

Anthony Albanese has spoken publicly for the first time since his address to the nation on Wednesday night.

The Prime Minister was a keynote speaker at the National Press Club on Thursday, shortly after US President Donald Trump addressed America on its ongoing war with Iran.

Albanese said that while Australia supported the US initial strikes on Iran, but said the ongoing war was hurting Australians.

‘Iran’s air force is degraded. Its navy is degraded. Its military industrial base is degraded, and so too is its capacity to launch missiles,’ the prime minister said.

That is a good thing. And now those objectives have been realised, it is not clear what more needs to be achieved, or what the end point looks like

‘What is clear is that the longer the war goes on, the more significant the impact on the global economy will be.’

President Donald Trump claimed near victory in the Iran war during a low energy address to the nation on Wednesday night (12pm Thursday AEDT) in the White House’s Cross Hall.

The President spoke for under 20 minutes as he pledged that Operation Epic Fury would conclude ‘shortly.’

He challenged US allies to go and ‘take’ the Strait of Hormuz – or buy oil from the Americans – as he washed his hands of that portion of the conflict.

‘I have a suggestion. Number one, buy oil from the United States of America, we have plenty, we have so much,’ Trump said.

‘And number two, build up some delayed coverage – should have done it before, should have done it with us as we asked – go to the Strait and just take it.’

It was President Trump’s first major address from the White House on the Iran war since it began last month.

There could be a nationwide shortage on red meat within days as fuel supplies dry up.

The latest Red Meat ­Advisory Council (RMAC) survey revealed that 85 per cent of meat producers only have enough fuel to keep operations going for one more week.

Less than half believe they can stretch their supplies to meet supermarket quotas during the ongoing US-led war on Iran.

Fears of a meat shortage could not have come as a worst time, with April and May regarded as peak periods for producers.

The variety of meats could reduce amid fears prices will rise over the next fortnight.

Rising freight costs could also contribute to rising meat prices at the checkout.

‘This isn’t a future problem – it’s happening now,’ council independent chair John McKillop said.

‘Producers are already facing difficult decisions, including the potential early slaughter of ­animals, where access to feed, water and transport cannot be guaranteed.’

He warned that the industry could soon be under ‘severe strain’ unless fuel supplies are not directed farming and regional communities.

‘Up to 76 per cent of producers identified April and May as a peak period when reliable fuel access is absolutely critical,’ Mr McKillop added.

‘Without it, they simply cannot operate.’