Hold onto your hip-pockets! Petrol prices are predicted to rise in the next month, with motorists expected to fork out another 22 cents per litre at the bowser. Ouch!
It comes as the federal government’s fuel excise cut approaches an end.
The excise, a tax that motorists pay on petrol, was halved by the Morrison Government for six months and is set to end in late September. The knock-on effects are hard to predict… but could include getting the bus more. Sigh!
There are some calls to extend the fuel excise cut, which will have saved motorists a whopping 3 billion dollars. But the current government has pushed back, claiming that it’s too costly to keep in place.
Only 2% of Aussie motorists will be avoiding the price hike by driving electric – but with petrol prices on the rise, that figure could be set to increase… as will the percentage of humble brags about owning a Tesla.