Fuel prices are falling across the capital cities after the Albanese government halved the fuel excise, according to fresh bowser data.
Average prices for petrol and diesel in Sydney were at $2.36 and $3.05 per litre on Thursday morning, down from $2.57 and $3.21 on March 31.
Melbourne experienced the biggest drop in diesel over the two days, with average prices at $2.99 per litre – down 25c.
Motorists in Adelaide and Darwin enjoyed the biggest unleaded drop, with e10 falling 29c to $2.30 and $2.35 per litre respectively.
The falling prices came as the fuel excise cut kicked in on Wednesday at midnight.
The move, announced earlier in the week, shaved 26.3c off prices that fuel providers typically pass on to consumers.
In announcing it, Anthony Albanese said it would save the average motorist roughly $19 per full tank.
The excise cut is one of several measures the Albanese government has rolled out in response to soaring prices sparked by the Iran conflict.
Others include a national plan to better co-ordinate action between the commonwealth and states, a release from the strategic fuel reserve and legislation underwriting extra fuel shipments to bolster supply.
The consumer watchdog has also vowed vigilance on price-gouging and last week announced it was investigating the country’s largest fuel providers.
In a rare national address on Wednesday night, the Prime Minister said he understood “it’s hard to be positive” as Australians grapple with the economic fallout from the Middle East.
“The war in the Middle East has caused the biggest spike in petrol and diesel prices in history,” Mr Albanese said.
“Australia is not an active participant in this war. But all Australians are paying higher prices because of it.
“I know that you’re seeing this at the servo and at the supermarket. And I understand farmers and truckies, small businesses and families are doing it tough.
“And the reality is, the economic shocks caused by this war will be with us for months.”
He also urged Australians to only take as much fuel as needed and use public transport in the coming weeks to help reserve supply for industry.
