Roberto Aguilera- Energy Economist Curtin University Oil and Gas Innovation Centre gives us a deep dive on fuel prices…

 

The Prime Minister has left open the possibility of slashing petrol excise in the budget–.as rising prices hit household budgets.

 

The fuel excise is a flat tax levied on petrol and diesel set at 44 cents per litre. It raises around 11 billion dollars in net terms for the commonwealth each year.

 

The Russian invasion of Ukraine has sent fuel costs soaring around the country! How long will these high prices last?

 

Todays Headlines

• EU leaders head to Kyiv in show of support 
• Federal court overturns teenagers’ climate change case
• Plan for Melbourne’s new art gallery revealed
• China faces biggest Covid-19 outbreak since start of pandemic

 

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