Fuel Supply Assured Amid Rising Prices, Coalition Calls for Excise Cut

Fuel supply in Australia is expected to remain the same, if not higher, in the coming weeks, according to the Albanese government. This comes as the Coalition escalates calls for a cut to the fuel excise amid rising petrol and diesel prices across the country.

The latest figures from the Australian Competition and Consumer Commission (ACCC) show that diesel prices across Australia's five largest cities have risen by an average of 10% over the last week, while unleaded petrol was up 8%.

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In response, Prime Minister Anthony Albanese and Energy Minister Chris Bowen moved to reassure the public about the normal or even higher levels of fuel supply expected in the coming weeks. This comes as the Coalition has escalated its calls for the government to halve the fuel excise in a bid to ease the burden on consumers.

The government has downplayed the prospect of any major restrictions on petrol sales, despite the concerns over rising prices. Bowen stated that the fuel supply situation is currently stable, and the government is closely monitoring the situation to ensure ongoing availability for all Australians.

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The Coalition, led by Opposition Leader Peter Dutton, has argued that a reduction in the fuel excise would provide immediate relief to households struggling with the rising cost of living. However, the Albanese government has so far resisted calls for such a move, citing the potential impact on the government's budget and the need to find a more sustainable long-term solution.

As the debate over fuel prices and government intervention continues, the ACCC data suggests that the problem is not limited to petrol, with diesel prices also experiencing a significant increase in recent weeks. This is likely to have a broader impact on the Australian economy, affecting industries and consumers alike.

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The Albanese government's reassurance on fuel supply levels is aimed at calming public concerns and avoiding potential panic-buying or other disruptive behaviors. However, the Coalition's calls for a fuel excise cut are likely to persist, as the issue of rising fuel prices remains a key political battleground in the lead-up to the next federal election.