Ampol and Viva Energy have assured fuel customers that it will be passing on lower prices at their sites, following the temporary reduction of fuel excise announced in the federal budget.
The six-month reduction in fuel excise to 22cpl commenced at midnight on March 29. Savings are expected to be passed on to customers in the next fortnight. This will be monitored by the ACCC.
“Ampol welcomes the federal government’s focus on cost of living and support for the ongoing economic recovery,” a spokesperson for Ampol said.
“We understand fuel is a significant cost for families and business. The 22.1 cent reduction in fuel excise will be passed on to our customers in full and we expect it to be reflected in retail prices over the coming weeks.”
Immediate price reduction
Viva Energy also acknowledged the announcement in the federal budget and is immediately reducing prices at Coles Express service stations by 10cpl (excluding Western Australia where service stations are required to notify FuelWatch 24 hours in advance of price changes).
Further price reductions can be expected over the coming week as existing fuel stocks are replaced with new deliveries attracting the lower fuel excise amount.
“We are pleased this morning to be able to provide some immediate relief to motorists with a 10cpl reduction in fuel prices,” Viva Energy Executive General Manager – Consumer, Megan Foster said
“We are committed to passing through the full 22.1cpl fuel excise reduction as we replenish fuel stocks in our service station network.”
According to Viva Energy, motorists could save more than $13 on a 60-litre fill up once the full excise reduction has been implemented.
