Rising petrol and oil prices could hurt Australia’s economy rebuild

Rising petrol and oil prices could hurt Australia’s economy rebuild

3 years ago
As the de facto federal election campaign continues to heat up, there has been one issue that has been high on the list of talking points for both the leaders of the major parties: the cost of living. In this, Australia is no different to most of the rest of the world. Around the globe, high inflation is once again a key consideration for central bankers and government policymakers, as the rising cost of living […]
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Oil prices soar: Sydney petrol prices hit record high

3 years ago
What happened? Last week, the Brent crude price jumped US$7.52 a barrel or 11.5 per cent to US$72.70 a barrel. And the US Nymex price added US$6.42 a barrel or 10.3 per cent to US$68.74 a barrel. It was the biggest percentage gain for both prices since June 2020. According to data from the Australian Institute of Petroleum, the Sydney average price of unleaded petrol rose by 10.5 cents a litre last week to a […]
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ATO: Excise duty rates for fuel and petroleum products

3 years ago
Effective August 2nd 2021, there will be a change in the excise calculation, as requested by the Australian Tax Office. To better represent the actual blend of Gasoline from 42.7 to 43.3 and Diesel from 42.7 to 43.30 and for the E10 product, the excise calculation will change from 14.0 to 14.20 and B100 product the excise calculation will change from 8.50 to 8.70. For the full detail please click on this link.  
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Petrol fuels inflation spike to 3.8 per cent

3 years ago
The annual rate of inflation has soared to 3.8 per cent following a jump in fuel prices. The Australian Bureau of Statistics said the consumer price index rose 0.8 per cent in the June quarter. “Rising fuel prices accounted for much of the increase in the June quarter CPI, with prices surpassing pre-pandemic levels,” ABS head of price statistics Michelle Marquardt said on Wednesday. Fuel prices rose 6.5 per cent in the quarter, while there […]
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Fuel up! Real-time petrol pricing is here

4 years ago
South Australians can now shop around for a bowser bargain with the Marshall Liberal Government’s real-time fuel pricing at their fingertips. Attorney-General Vickie Chapman says that motorists are now able to access real-time data through apps to assess what the nearest and best petrol price is. “This will give motorists purchasing power like never before,” Attorney-General Chapman said. “All petrol retailers must submit their prices to an aggregator, with the data then available for app […]
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