Tuesday 20 September 2022 10:56 PM Australian petrol prices to skyrocket after fuel tax cut ends trends now
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Petrol prices at the pump will soon jump by 25c-a-litre as the fuel excise discount ends after Anthony Albanese refused to extend it.
But drivers should be spared the financial pain of the astronomical prices seen earlier this year when the Russian invasion of Ukraine began.
Consumers should expect to see prices increase within days after the fuel excise cut ends at 11.59pm on September 28, NRMA spokesman Peter Khoury told Daily Mail Australia.
The Morrison Government halved the fuel excise from 44.2c to 22c-a-litre in March for six months as prices skyrocketed.
Mr Khoury said GST would add another 3c-a-litre to the cost, pushing prices back up by 25c-a-litre at the bowser.
Australians will be paying more at the fuel pump by October as the temporary cut on the fuel tax finishes (file image)
'The excise is added at the wholesale level so we won't see an increase immediately, retailers need to buy more stock and pass on the hike to customers,' he said.
'It depends on how quickly retailers sell what they have, which could be a few days or up to two weeks.
'Urban areas will go through their product quicker and regional areas will follow.'
Going on Monday's petrol prices, to fill up an unleaded car with a 60-litre fuel tank the cost would, on average, rise from about $98.40 in Sydney to $113.40.
In Melbourne it would go from about $99 to $114 and in Brisbane from about $103.80 to $118.80.
