Motorists to wait weeks for fuel pain relief to kick in | Yahoo News Australia

Subscribe and turn on notifications🔔 : https://buff.ly/3F6ZiLt | Australian motorists are being warned that they may need to wait weeks for cheaper fuel to reach petrol stations.

The federal government announced that it had cut wholesale fuel prices by 26 cents a litre in a bid to stave off the worst of the economic fallout from the US-Israeli war against Iran.

However, NRMA spokesperson Peter Khoury told AAP that service stations need to sell their older, higher-taxed stock before they can start to bring in the cheaper fuel.

“Once they buy new fuel, they will pass the discount on at that point.”

Treasurer Jim Chalmers also explained that, “The fuel in the tanks right now has been purchased at a higher rate, and so people should expect it would take somewhere between maybe one and two weeks for the full benefit of the excise to flow through.”

He added, “I want to manage expectations on that front, because people shouldn’t rock up at five past midnight tonight and expect to see the full benefit passed on.”

Read more: https://au.news.yahoo.com/fuel-tax-cuts-could-mean-163000793.html

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