Excise cut sees fuel prices falls across the Redlands

Liberal National Party candidate for Bowman, Henry Pike, has welcomed reductions in the cost of fuel across the Redlands following the announcement of a cut in fuel excise in last week’s Federal Budget.

For the next 6 months, Australians will receive a 22 cents per litre reduction in fuel excise, which is expected to flow through to the bowser over the next 2 weeks.

Mr Pike said that the measure will bring welcome relief to Redland households that have been struggling with a sharp rise in fuel prices this year.

“The Federal Government can’t control all the global factors that have forced fuel prices sky-high over recent weeks, but it can provide this respite by reducing the federal excise,” Mr Pike said.

“This is a temporary fix, but it will help relieve pressure during an unusual period of global market shock caused primarily by Russia’s invasion of Ukraine.”

“A family with 2 cars who fills up once a week could save around $30 a week or around $700 over the next 6 months.”

Mr Pike said that the fuel excise cut had brought immediate changes to pricing boards across the Redlands.

Ampol Cleveland has seen a 26c reduction in ULP91 since the excise reduction was announced on Tuesday night. 7-11 Redland Bay has seen a 15c drop over the same period.

“Of course, our whole economy is reliant on fuel, so this reduction doesn’t just help at the bowser. It also assists in keeping a lid on inflation across all the items that go into our household budgets.”

“This temporary reduction in fuel excise will not come at a cost to road funding, which will see more than $12 billion spent in the coming year,” Mr Pike noted.

Source: http://petrolai.com.au/ utilising Queensland Government Fuel Price Reporting data.