Deputy Prime Minister Marles says no further fuel excise cut amid global price surge

Deputy Prime Minister Richard Marles announced that the government will not implement another fuel excise cut, emphasizing a shift toward broader cost-of-living initiatives and careful budget management. He referenced earlier reductions to the import tax that had temporarily eased fuel costs, but warned that one outlet surge in prices is a result of the war in Iran and a broader international inflationary environment.

Marles highlighted that the Reserve Bank is likely to raise the cash rate sooner than planned, adding pressure on households. While the opposition plans to introduce an automatic price-shield triggered by Brent crude exceeding US$100 per barrel, Marles said the government remains focused on supporting Australians amid these challenges. He also mentioned a discussion with U.S. Secretary of War Pete Hegseth about the conflict but declined to speculate on its outcome.