ACCC reports a drop in petrol prices after excise cut took effect.

As per the latest petrol monitoring report of ACCC the daily average petrol prices dropped at least 39 cents per litre in Sydney, Melbourne, Brisbane, Perth and Adelaide in weeks after the fuel excise was cut on 30 March 2022. During the same period, the prices decreased in between 25 cents and 28 cents per litre in Canberra, Hobart and Darwin.

The fuel excise cut along with the linked decrease in GST totalled 24.3 cents per litre but temporary falls in international refined petrol prices in early April, plus concurrent price cycle drops in most of the five largest cities, improved the savings to many motorists.

Over the same time frame, average diesel wholesale prices in the 5 largest cities reduced by ~ 32 cents per litre.

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