Motorists in the South East are paying eye-watering fuel prices at bowsers as the end of the 22c per litre discount excise bites.
Many drivers in the district this newspaper [Naracoorte Community News] spoke to say they are paying record-high prices for their fuel when they can least afford it, and the surge is not expected to fade anytime soon.
The cost of fuel rose 9 per cent in August compared to the month before, and prices are now 14 per cent higher than a year ago.
Average weekly fuel prices in regional towns like Naracoorte, Keith, and Bordertown have been hitting $2.08 for the past 12 weeks.
Some petrol stations across the South East have prices nudging $2.38 per litre, with many motorists saying “this is too much to handle amidst the high cost of living pressures”.
This is the highest average petrol and diesel price seen since the aftermath of Russia’s invasion of Ukraine, and the return of the full 48c per litre fuel excise tax by the government has contributed to the sudden spike in prices showing up at the pumps.
The fuel tax was halved by the former Morrison government to reduce fuel prices when the conflict in Ukraine caused them to soar above $2 a litre.
The temporary policy was in place for six months and ended on September 27.
Federal Treasurer Jim Chalmers said the tax cut, amounting to around twenty-two cents off every litre, was too costly to continue.
Responding to questions from The [Naracoorte Community] News on what the government was doing to make fuel prices affordable, and whether it was too early to restore the fuel tax cut, a spokesperson for the Treasurer said the decision to restore the fuel excise cut would not happen as it was “too expensive”.
“The government has been upfront and consistent that a fuel excise reduction would be too expensive to reintroduce,” the spokesperson said.
Ignoring the impulsion of the fuel tax, the spokesperson said “petrol prices are high at the moment because of a global shortfall in oil production and the war in Ukraine”.
“We understand that households are under pressure, that is why our number one priority is rolling out billions of dollars’ worth of cost-of-living relief to help people make ends meet, including energy relief for homes and small businesses that the Coalition voted against.
“The ACCC continues to monitor fuel prices, and if anyone sees poor behaviour and anti-competitive conduct, they should report it to the consumer watchdog,” the spokesperson said.
The Australian Competition and Consumer Commission said in a statement that petrol prices move up and down in regular patterns in Australia’s largest capital cities.
It said the petrol price cycles resulted from the pricing policies of petrol retailers and not changes in the wholesale cost of fuel.
The consumer watchdog said it would be looking out for retailers charging needlessly high prices for fuel.
Figures obtained by this newspaper [Naracoorte Community News] from the Australian Institute of Petroleum (AIP) for the trading points in the South East for 12 weeks (July to September) show the average weekly fuel prices as follows:
Naracoorte
- July – $175.4
- September – $207.8
Keith
- July – $174.6
- September – $199.8
Bordertown
- July – $178.9
- September – $199.8
Some local motorists who do not want to be named said the fuel price hike was a bit dodgy and a slap on the face of the many drivers who struggle to put food on the table for their families.
One motorist said fuel was just one of the many cost-of-living pressures forcing those doing it hardest to make tough decisions.
According to reports, factors causing the spike in the fuel price are not expected to ease for at least the next few months.
This article appeared in the Naracoorte Community News.
