Australia Extends Fuel Tax Cut by One Month to Tackle High Oil Prices

The Australian government has announced a one-month extension of its fuel excise tax reduction policy. Domestic fuel prices have continued to rise due to the conflict in Iran, increasing the financial burden on households. Under this policy, petrol and diesel prices in July will be 16 Australian cents per liter lower than the standard rate, allowing consumers to save approximately AUD 11 when filling up a typical tank. The government stated that this temporary measure aims to alleviate the impact of rising fuel prices on household budgets.