27 CENTS A LITRE OFF WHEN OIL PRICES SOAR UNDER THE LIBERALS AND NATIONALS

27 CENTS A LITRE OFF WHEN OIL PRICES SOAR UNDER THE LIBERALS AND NATIONALS 

Families in Barker would save around 27 cents a litre at the bowser when global oil prices surge under the Liberals and Nationals’ Fuel Price Shield plan.

Federal Member for Barker, Tony Pasin MP, said rising petrol prices put immediate pressure on household budgets. 

“Every extra dollar you spend on petrol is a dollar less for groceries, rent, the mortgage or power bills,” Mr Pasin said. 

“Right now, it feels like every tank costs more than the last. For many in our community, another $10 or $20 is money they can’t afford to lose from the household budget.” 

Under Fuel Price Shield, fuel excise would automatically be halved when the two-week average price of oil rises above US$100 a barrel. 

At current rates, that would cut the tax on fuel by around 27 cents per litre, saving around $15 on a typical tank. 

While Fuel Price Shield is active, heavy vehicle operators would pay no net fuel tax, with the Road User Charge being cut from 32.4 cents a litre to zero. 

“The Liberals and Nationals forced Labor to halve the fuel tax in April. But Australians should not have to wait for politicians to decide whether they get relief,” Mr Pasin said. 

“Fuel Price Shield would automatically cut the fuel tax when oil prices soar. When prices return to more normal levels, the regular rate will return.” 

Mr Pasin said immediate relief at the bowser was only one part of the Liberals and Nationals’ fuel plan. 

“We also need to make Australia less vulnerable to global fuel disruptions in the first place.” 

The broader fuel security plan would:

• More than double minimum fuel supply requirements to 60 days.
• Create an $800 million Australian Fuel Security Facility to support more than one billion litres of new storage capacity, with a focus on diesel.
• Launch a daily public fuel dashboard so Australians can check fuel supply levels in real time.
• Support new and prospective refining capacity and remove barriers to increasing Australian fuel supply.

“Fuel Price Shield is about immediate relief when locals need it. Our broader measures are about making sure Australia has the fuel and storage capacity we need.”