Fuel Excise Cut: Big Savings at the Bowser

0:00State and territory leaders just locked in a bigger cut to the fuel excise, dropping it by a total of 32 cents per liter on petrol and diesel, until June 30th. That builds on the Commonwealth's move earlier this week to have the excise by 26.3 cents per liter, all to fight those climbing. Palm prices. Rising fuel costs kicked off with the Middle East conflict, pushing prices up across the board and hitting wallets hard. Leaders knew they had to step up, especially with states pulling an extra GST cash from those higher fuel sales. Now families, farmers and businesses stand to save big at the Bowser. Western Australia premiere, Roger Cook, who steered the talks, called it real relief and stressed how it eases everyday pressures. The states agreed Thursday to redirect about $400 million in extra GST revenue, expected by June's end toward that final five point. Seven cent cut per liter, therefore going the cash to make it happen. Cook says they've nudged the Commonwealth, and Treasurer Jim Chalmers should greenlight it almost right away, so drivers feel the drop soon.

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