Fuel Excise Duty 2023.
Fuel Excise Duty is increasing.
The fuel excise duty is added to the price of all petrol and diesel in Australia, at the Fuel pumps.
In August 2023, this was 48.8 cents per litre.
In 2022 it was 44.2 cents per litre.
This was a 4.6 cents per litre increase, or 10.4%.
The income from fuel excise, on petrol and diesel, is used towards the maintenance of roads and other costs relating to motoring.
With more vehicles changing to Electric vehicles (EVs), rather than petrol and diesel, the governments income from this fuel excise will be reducing, even with the increase per litre.
To counteract this reduction, the Australian Treasurer, Jim Chalmers, has indicated the Federal Government could introduce an ‘electric-car tax’ – designed to replace revenue lost from the fuel excise as more motorists move away from petrol and diesel vehicles.
If this is not done, then one of at least two situations will occur.
Less money coming in will mean fewer road repairs can be done.
Petrol and Diesel vehicle users will have to subsidise the EV owners, by paying even higher fuel prices.