Account Info
Log Out
English
Back
Log in to access Online Inquiry
Back to the Top

Will it get cheaper? Things to help you understand the current fuel price

The Federal Government halved the fuel excise tax for six months in the 2022 Budget to reduce the cost of petrol for Australian motorists, which means the amount of tax drivers pay to fill up has been cut to 22.1 cents from 44 cents per liter. Hit the link below to see:
One click to see the 'winners' and 'losers' after Budget 2022!

Over the next few weeks, motorists should see petrol prices drop back well below $2 a liter as wholesale oil prices fall and cuts to the fuel excise tax start flowing through to the pump.

The NRMA $Insurance Australia Group Ltd(IAG.AU)$ spokesman expressed that oil prices had fallen consistently over the last few weeks from record highs in early March, and servos were already starting to replenish their stocks and pass on those savings. Meanwhile, he declared that It is critical that oil companies give on the cuts to the excise and the falls in the oil prices and not just substitute one with the other.

The Australian Competition and Consumer Commission (ACCC) ensures the tax cuts are passed onto the customer and not withheld by the retailer.

Which one of the situations that you wish to happen? The fall in fuel prices or the surge in Energy companies' stock prices?
$Woodside Petroleum Ltd(WPL.AU)$, $Origin Energy Ltd(ORG.AU)$, $Ampol Ltd(ALD.AU)$

Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only. Read more
Translate
Report
9888 Views
Comment
Sign in to post a comment
    avatar
    Moomoo Community Official Account
    G’day! You’re in the right place!
    3388Followers
    88Following
    2640Visitors
    Follow