Source : Perth Now news
Fuel prices will likely increase on Wednesday in line with a halving of the fuel excise cut.
From Wednesday, the fuel excise cut introduced by the federal government on April 1 will fall from 32 cents per litre to 16 cents per litre.
The excise cut was introduced after fuel prices soared across Australia in response to growing costs sparked by the ongoing conflict in the Middle East.
Prices soared to record levels, with regular unleaded reaching $2.59 and diesel costing up to $3.27 earlier this year.
The Australian Competition and Consumer Commission (ACCC) said on Tuesday it would monitor changes and remind fuel retailers “not to take advantage of the partial restoration in excise to profit at the expense of consumers.”
“We will not hesitate to take action if retailers make false or misleading statements about price movements or if there is evidence of anti-competitive behaviour,” ACCC Commissioner Anna Brakey said.
Australians are being urged to compare prices to find cheaper alternatives in the coming days, with NRMA spokesman Peter Khoury advising drivers to fill up their vehicles before the prices change on Wednesday.
“While it may not happen immediately, depending on where you live, Australians can absolutely expect fuel prices to go up by over 16 cents per litre over the next week,” Mr Khoury said.
“We are urging families to fill up before tomorrow.”
