Treasurer Jim Chalmers is warning both domestic and international influences are adding to prices ahead of an all-important quarterly inflation update.
Seven in ten Australian drivers have changed their driving habits in response to skyrocketing fuel prices, according to new national polling commissioned by the Climate Council.
Motorists are getting hit hard at the pump since the return of the full fuel excise tax, with some cities still yet to reach the peak of their fuel cycles.
Treasurer Jim Chalmers has taken aim at petrol companies that don't pass on wholesale price drops to consumers as Australia again stares down an energy crisis.
Foremost in the Budget is what Treasurer Josh Frydenberg termed a “temporary, targeted, and responsible” cost of living package “to take pressure off household budgets”. The cost of living, he said, had risen due to the pandemic and the invasion of Ukraine.
A light economic data calendar will switch the focus to the March 29 federal budget, which is being put together at a time of heated inflation pressures, notably at the petrol pump.
Thousands of British petrol stations have run dry, an industry group said, as motorists scrambled to fill up amid a supply disruption due to a shortage of truck drivers.
