Will Fuel Prices Drop in Australia?
Sadly, it seems as though the current fuel prices will continue to climb as a result of the War in Europe and our political leaders decisions to dictate the fuel excise. Fuel Excise is the tax the Government adds on, and that tax is mostly used to pay for our roads.
When will fuel prices drop in Australia?
A drop in Australian fuel prices would require heavy Government intervention.
Sadly, it seems as though the current fuel prices will continue to climb as a result of the War in Europe and our political leaders decisions to dictate the fuel excise. Fuel Excise is the tax the Government adds on, and that tax is mostly used to pay for our roads.
Prime Minister Scott Morrison 2 days ago: "I think Australians know that what's happening with petrol prices at the moment is being caused by what's happening with the war in Europe," Mr Morrison said as stated on the abc .
According to the AFR, Australians pay 44.2 cents a litre in fuel tax, plus an additional 10 per cent in goods and services tax (GST.) as of 1 day ago.
Use the graph below to find your vehicles average fuel consumption and input the average litres and the current fuel price into our fuel calculator to work out the costs at the browser.