April Fools’ Day fuel excise cut is short-sighted

March 31, 2026 — 5:43pm

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The Albanese government’s decision to halve the excise tax for three months to deliver a 26.3¢ cut to a litre of petrol is a populist measure that could make some Easter holiday motorists happier.

But the quick fix has potential to come back and bite the Australian economy should the Middle East war drag on. The community is concerned about shortages; reducing the price of petrol is likely to increase demand, which would just add to that problem.

Federal and state governments are scrambling to respond after panic buying drained fuel at hundreds of service stations across the country and helped force prices to record levels. Regular unleaded petrol has........

© The Sydney Morning Herald