Our trip to the local servo is tipped to bring even more pain from September 28.
The end of the Australian Government?s excise levy halving will see current record fuel prices soar to even higher records as Aussies prepare to bear the full brunt.
Meanwhile, Australia?s watchdog is investigating a number of petrol retailers who were dobbed in for not passing on the halved excise tax when it first came into force.
Russia?s invasion of Ukraine as well as sanctions imposed by the US and EU have led to decreased global oil supply, which has put a rocket under global fuel prices.
Fuel prices have soared over 70% since the war began in February.
With the price of crude oil more than tripling since 2020, you might need to brace your wallets as fuel prices look set to worsen for a while to come.