World
Australia's fuel excise tax returns to full rate on August 2, 2026
The Australian government is ending its fuel excise tax reduction at midnight on August 2, 2026, as confirmed by Treasurer Jim Chalmers. The cut, introduced on April 1, had reduced the federal fuel excise from 52.6 to 20.6 cents per litre to combat the oil crisis triggered by the Strait of Hormuz closure. Through July, it was partially maintained at 36.6 cents per litre. With semi-annual inflation indexation now applying, the excise stands at approximately 53.7 cents per litre. Wholesale unleaded petrol is expected to rise from around $1.83 to $2.00 Australian dollars per litre within one to two weeks.