Today is the last day Australians will be able to take advantage of a temporary petrol price cut at the bowser. The fuel excise cut, which was introduced in the Morrison government's final budget in March, will end at midnight tonight.
It will see the tax on fuel increase by 25.3 cents per litre, according to the competition regulator, the ACCC.
"The government expects that the price of petrol shouldn't shoot up at the bowser on Wednesday night by the full amount, if the normal market pressures are in operation," Treasurer Jim Chalmers told the nation on September 20.
Media publications across the country are urging Australians to fill up now, rather than wait, as the prices will start to rise over the next few days. But for electric vehicle owners, the global oil prices, inflation, government intervention and fluctuating prices at the petrol pump have no impact on their lives, or their wallets.
The European Union has imposed a partial ban on seaborne Russian oil from December 5th and petroleum products from February 5th 2023. And that will mean higher prices in coming months.
Now’s the time to consider switch from your fuel-guzzling car for a zero-emission vehicle.