The total saving reached\u00a032 cents per litre\u00a0after the states and territories agreed to contribute an additional\u00a05.7cpl, funded by extra Goods and Services Tax (GST) revenue generated by higher fuel prices.<\/p>\n
The package also included the suspension of the\u00a032.4cpl road-user charge\u00a0for heavy vehicles during the same period. Federal budget papers estimated the combined measures would cost the government\u00a0$3.3 billion.<\/p>\n
Looking for your next car?<\/p>\n
CarExpert can help you research<\/a>, compare<\/a> and buy<\/a> so you choose with confidence.<\/p>\n While the May 12 federal budget did not include an extension of the discount, the government announced in June that the fuel excise cut would continue until\u00a0August 2<\/a>, with the Commonwealth’s contribution reduced from\u00a026.3 to 16cpl\u00a0from July 1.<\/p>\n Speaking to reporters today, Mr Chalmers confirmed the temporary relief would not be extended.<\/p>\n “That fuel excise relief will end midnight on Sunday and that’s because it has played a really important role helping to take some of the sting out of these cost-of-living pressures,” Mr Chalmers said.<\/p>\n “It was never the government’s intention for that to be permanent. We began to taper that off at the start of the month, deliberately, so that we could provide a bit more cost-of-living help.”<\/p>\n According to the Australian Institute of Petroleum<\/a> (AIP), the national average retail price of unleaded petrol for the week ending July 26, 2026, was\u00a0182.0cpl, above the four-week average of\u00a0171.8cpl.<\/p>\n That compares with\u00a0181.0cpl\u00a0in the week ending March 1, 2026, before the federal government announced its fuel excise relief package, when the four-week average was\u00a0171.2cpl.<\/p>\n Average national retail diesel prices were\u00a0180.9cpl\u00a0in the week ending March 1. By the week ending July 26, the AIP reported the national average had climbed to\u00a0227.2cpl.<\/p>\n Electric vehicle (EV) sales have surged since the fuel excise reduction was introduced in April, accounting for a record 23.3 per cent\u00a0of new passenger vehicle sales in June<\/a>. The Tesla Model Y<\/a> also became the first EV to top Australia’s monthly new-vehicle sales charts across all powertrains in May 2026<\/a>.<\/p>\n The announcement comes after the federal government unveiled several initiatives aimed at strengthening Australia’s fuel security, including the\u00a0Australia Fuel Security Reserve, which is intended to store around\u00a0one billion litres\u00a0of fuel.<\/p>\n Yesterday, prime minister Anthony Albanese also announced the federal government would commit\u00a0$4 million\u00a0towards a pre-feasibility study into what could become Australia’s first new oil refinery in more than 60 years.<\/p>\n![\"020426_CE_Fuel_Paul_diesel_fuel\"](\"https:\/\/www.newsbeep.com\/ie\/wp-content\/uploads\/2026\/07\/2026-04-020426_ce_fuel_paul_diesel_fuel.jpg\")
<\/p>\n![\"Fuel_DSMY_Kingsway_SouthMelb_290326_PXL_20260329_082957053\"](\"https:\/\/www.newsbeep.com\/ie\/wp-content\/uploads\/2026\/07\/2026-03-fueldsmykingswaysouthmelb290326pxl20260329082957053.jpg\")
<\/p>\n![\"DSMY_Fuel_SouthMelb_290326_PXL_20260329_085022114\"](\"https:\/\/www.newsbeep.com\/ie\/wp-content\/uploads\/2026\/07\/2026-03-dsmy_fuel_southmelb_290326_pxl_20260329_085022114.jpg\")
<\/p>\n