Experts warn that if gasoline prices rise well above $ 2 per liter (US $ 1.46), they will hit hip pockets everywhere, from bowers to supermarket shelves.
The warning is that two national MPs will consume fuel to the federal government as gasoline prices continue to rise towards $ 2.20 per liter (US $ 1.60) due to global pressure, including the war between Ukraine and Russia. Occurs when you request a tax reduction.
NRMA’s Peter Khoury states that a fleet of trucks paying more than twice the average fuel price compared to April 2020 will inevitably pass on price increases to consumers.
“Diesel is the fuel that our economy supports. Small businesses that operate agriculture, agriculture, mining, transportation and fleets,” he told ABC on Monday.
“This is a coast-to-coast move and I’ve never seen anything like this in history. Your family will feel it in Bowser, supermarket walkways, and everywhere else.”
Queensland Senator Susan McDonald and Victorian MP Ann Webster want to reduce excise taxes by 44 cents (32 cents) per liter to help reduce living costs.
Senator McDonald said the government should also consider suspending at least a portion of the excise tax.
“We can’t afford to absorb the prices we’re currently looking at,” McDonald’s told ABC.
Webster has contacted Finance Minister Josh Frydenberg about providing relief in Bowser.
The government is also facing pressure from the Liberal Prime Minister over taxes.
South Australia’s Prime Minister Steven Marshall, who will meet voters in a ballot box this weekend, is calling for a temporary halving of excise taxes to fight to maintain the government.
New South Wales Prime Minister Dominic Perrott welcomed cuts in resection to mitigate rising living costs, and Tasmania’s Prime Minister Peter Gutwein also urged the government to cut.
Prime Minister Scott Morrison will not rule out excise tax cuts before the federal budget is filed on March 29, but gasoline prices range from about $ 1.70 (US $ 1.24) to $ 2.20 (US $ (US $). US $ 1.60)-More than the full cost of excise tax.
“We understand what we can, can and cannot do, and are working with other countries around the world to relieve these pressures,” he told Nine Network on Sunday.
Senior Liberal Party lawmaker Tim Wilson said road payments are taxed and need to be balanced against government revenue losses.
“All options are considered down to the budget … but trade-offs also need to be considered,” the deputy minister told Sky News.
“We need to make sure that there are many roads in the country that need to be repaired, including national roads, and that we have the funds to rebuild them.”
According to the Australian Automobile Association, fuel sales tax is expected to raise approximately $ 50 billion over the next four years and spend approximately $ 47 billion on land transportation projects.
Wilson said the release of fuel stocks was only a temporary solution if global instability, supported by Russia’s invasion of Ukraine, caused oil prices to soar.
“The point of fuel stockpiling is to secure the fuel stockpile needed in times of crisis. We currently live in a very uncertain world.”
After Russia’s invasion of Ukraine caused prices to skyrocket, Australia joined 30 countries, freeing a total of 60 million barrels of oil from reserves and stabilizing prices.
30 million barrels of oil will come from US strategic reserves.
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Australian Associated Press is an Australian news agency.