Australia will further cut fuel taxes to cushion households from rising prices as the Iran war upends global supply chains.
Prime Minister Anthony Albanese announced a temporary pause in a sales tax increase on fuels on Thursday, shaving fuel excise by 5.7 Australian cents (3.9 US cents) a liter for three months. That comes after Monday’s announcement that the excise duty would be halved, to 26 Australian cents a liter, as well as previous steps to lower costs, such as releasing some reserves.
Most of Australia’s fuel is imported, which has left it exposed to global supply shocks as the ...
