Australia to halve fuel tax as global energy crisis deepens

Al Jazeera Economic ImpactNews ReportEN 2 min read 100% complete by John PowerMarch 30, 2026 at 06:47 AM

Part of Story

Albanese brings forward Singapore trip and speaks with China in bid to shore up petrol shipments to Australia

AI Summary

medium article 2 min

Amid rising fuel prices due to the global energy crisis and the US-Israel war on Iran, Australia will halve its fuel tax on petrol and diesel from April 1 to June 30. Prime Minister Anthony Albanese announced the measure in Canberra as crude oil prices reached nearly $117 a barrel. The tax cut aims to alleviate financial strain on Australians, reducing petrol costs by 26.3 Australian cents per liter, saving motorists approximately $19 on a 65-liter tank. The government will also suspend charges on heavy vehicles for three months. While Australia exports coal and natural gas, it relies on overseas sources for 80% of its refined fuel.

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Key Claims (5)

AI-Extracted

Petrol prices had risen about 33 cents ($0.21) per litre in the past two weeks alone.

statistic — Peter Khoury, a spokesman for the National Roads and Motorists’ Association100% confidence

Average diesel and petrol prices in Australia’s five largest cities rose 10 percent and 8 percent, respectively, in the week to March 25.

statistic — the country’s competition watchdog100% confidence

The move would reduce the cost of petrol by 26.3 Australian cents ($.18) per litre.

factual — Albanese100% confidence

The fuel excise would be cut in half from April 1 to June 30.

factual — Albanese100% confidence

Australia’s government will slash petrol and diesel taxes by half.

factual — Australian Prime Minister Anthony Albanese100% confidence

Claims are automatically extracted and should be independently verified. Attribution indicates the stated source of the claim.

Key Entities & Roles

Key Player Opposition Context

Canberra 30% National Roads and Motorists’ Association 40% Peter Khoury 40% Israel 50% United States 50% Iran ×260% Australia ×480% Anthony Albanese ×590%

Keywords

fuel tax 100% energy crisis 80% fuel prices 80% crude oil 70% tax cut 60% petrol prices 50% diesel prices 50% anthony albanese 50% australian economy 40%