Australia to halve tax on petrol to bring down costs in wake of Iran war
March 30, 2026 08:59 am
Australia will halve the tax on fuel and diesel for three months in a push to bring down costs that have surged due to the U.S.-Israeli war on Iran, Prime Minister Anthony Albanese said on Monday.
The halving of the tax, known as the fuel excise, would reduce the cost of fuel by 26.3 Australian cents per litre, Albanese said.
‘‘We understand the cost pressures for people are very real as the impact of the war on the other side of the world plays out right here,’‘ Albanese told a press conference in Canberra.
The government would also pause the road user charge on heavy vehicles for three months.
The measures are expected to cost the government A$2.55 billion ($1.75 billion).
Source: Reuters
-Agencies
