Why Did Fuel Prices Increase despite The Cut in Fuel Excise?

[Deactivated] on 13/05/2022 - 14:13

It seems the less the government does about the cost of living the better it is. Can any economic experts(everyone) explain the craziness of the government policies that are fuelling inflation?

They don't want house prices to crash but affordable housing is a priority. Want wages to increase but inflation down. If rates increase then rents have to increase. How do people afford to even rent?

People have a lot of money in their accounts. Let them spend. Why are governments giving free money and increasing prices further?

In the name of helping low-income families, they are fuelling price rises.

Poll Options

  • 53
    Government should do more
  • 271
    Government should do nothing
Financial Federal Election Fuel

Comments

    • rektrading on 15/05/2022 - 17:57
      +1

      That's silly.

      People and funds with cash will frontrun before that.

    • [Deactivated] on 16/05/2022 - 08:52
      -1

      Governments will do everything possible for them to not happen such things. Who wants to kill a golden goose? There should be WW3 for that to happen.

  • Dogsrule on 15/05/2022 - 20:57
    +4

    If you drive something that looks like this, and you're complaining about fuel prices, you have nobody to blame but yourself.

    Nearly nobody needs anything larger than a Corolla sedan hybrid which sells for $31k and uses 4L/100km in real world driving. It's nearly the size of the first Holden Commodore, if you don't fit in it you're either over 6"5 or you're too fat.

    If you're an actual tradesman you don't need a $50-70k 4x4 appendage extender, you'll be fine with a $32k 4x2 trayback - they have a larger tray and payload than a 4x4 anyway.

    And no, it's not your God-given right to tow a giant caravan around the country or go bush-bashing every weekend.

    Get used to it, this is the future whether you like it or not.

    • [Deactivated] on 16/05/2022 - 08:55
      +1

      Absolutely true. I drive a Mazda 3 and am not worried about fuel prices, but the pattern of pumping money into the economy and rising prices but wages staying low is scaring the shit out of me.

  • Krankite on 16/05/2022 - 08:03

    There is currently a shortage of supply the only way to fix that is to reduce demand or increase supply. At the moment there is a small ramp up in non-russian production that will eventually flow through but that will take time. The result is the price of petrol increases until people use it less, removing the excise tax only makes petrol cheaper in Australia on an international level so it doesn't flow through instantly despite the PM's marketing.
    They should have targeted the excise at primary producers to reduce inflation and increased genuine welfare payments.

  • techlead on 16/05/2022 - 10:43
    +1

    Don't forget the excise tax goes back to its original levels in June. ScoMo only reduced it for the election lol. Once the election is over, he's not gonna care.

    • [Deactivated] on 16/05/2022 - 10:51

      He shouldn't have decreased it in the first place. People should be more responsible about their spending.

      • techlead on 16/05/2022 - 11:05
        +2

        ScoMo only wants to do everything to get across the line in the election this week.

        Now that everything else has fails, he has promised to "change". His whole campaign is based on "you know this government very well, Albo is untested, you don't know what he will do", so now he's saying "re-elect me and I will change" lmao. What happened to the "government you know well"? If you are gonna change after the election, then isn't ScoMo just like Albo? ahahahah

      • Jason Genova on 16/05/2022 - 11:44

        yep too many cry babies moaning about cost of living on petrol, yet on the weekends theyre out wining and dining, online shopping. hypocrisy is real

        as you can see petrol prices are still sky high even with the cut

    • Jason Genova on 16/05/2022 - 11:43

      yep and once election is over, interest rates are gonna moon

      • techlead on 16/05/2022 - 11:51
        +1

        I'm pretty sure ScoMo tried to pressure the RBA to not raise interest rates before the election, but inflation just got out of hand. The RBA should have raised rates months ago.

  • gleamnite on 16/05/2022 - 12:32

    Could be of interest: https://www.youtube.com/watch?v=AQbmpecxS2w

  • magic8ballgag on 16/05/2022 - 19:02

    Why Did Fuel Prices Increase despite The Cut in Fuel Excise?

    Why did You Capitilise specific Words in Your title?

    • [Deactivated] on 16/05/2022 - 20:32

      It’s automatic suggestion, may be I clicked to change it. But whenever a post is created it will ask for this suggestion to capitalise every word

  • R4 on 16/05/2022 - 21:42

    AUD dropped against USD recently too which hasn't helped.

    Government should stay out. Make itself smaller. Cut red tape. Cut expenses.

    Taxes could be reduced - fiscal drag definitely would be. Tough at first but better in the long run.

    • Dogsrule on 18/05/2022 - 17:54

      Taxes could be reduced - fiscal drag definitely would be. Tough at first but better in the long run.

      The Stage 3 income tax cuts start on 2024 with marginal rates of 19% from $18,200-$45,000, then 30% from there till $200k. These cuts will save about $9k of tax P/A on a $200k salary - that's huge.

      GST is comparable to US sales tax in most states and much lower than EU VAT, small/medium business tax rate is quite low @ 25%, big business certainly doesn't need a cut from 30%, most of the fuel excise actually goes into road projects despite common belief and government debt is over $800B and rising.

      These tax rates are pretty low from an OECD perspective, I just don't see where we can make any more cuts.

      • R4 on 19/05/2022 - 01:04

        Cut the size of government then. Big savings to be made.

        I'm looking forward to those tax cuts. They are long overdue.

        • Dogsrule on 20/05/2022 - 21:45

          I suppose it depends on your perspective. After seeing the state of most of the rest of the world, I think I actually get reasonable value for money from my taxes (and it's a pretty serious tax bill).

          Apparently the Greens are making lots of noise about repealing the Stage 3 tax cuts if they form minority government with Labour.

  • Kamsi on 17/05/2022 - 08:06
    +2

    All I know I'm paying 2.20 for my fuel, only half a tank cost me around 74 dollars which usually fill my tank up.

    • rektrading on 17/05/2022 - 18:23
      +1

      $2.20 p/l is pretty expensive for fuel. Is it going back up to March 2022 prices?

      • Dogsrule on 18/05/2022 - 18:39
        +1

        Diesel is $2.20/L in many places, about 30-40c more than ULP.

        • R4 on 19/05/2022 - 01:05
          +1

          But just over $1.90 in many other places. That's what I paid this morning. Diesel is in short supply and costing more worldwide.

          • Dogsrule on 19/05/2022 - 17:43
            +1

            @R4: Yeah I can only speak for regional NSW, we tend to be a bit more expensive than the city.

            Just saw ULP for $2.14 at several servos, so it's catching up.

  • Dowhatuwant on 17/05/2022 - 08:58
    +2

    Thanks Biden!

    • Cluster on 17/05/2022 - 11:28
      -1

      I thank Thor and Zeus too. They have as much influence on global oil markets, oil supply from Russia, worldwide demand, and the war in Ukraine as Biden does.

      • Dowhatuwant on 17/05/2022 - 15:18
        +1

        Well you're not bright then. Oil prices were going up as soon as he cancelled the Keystone pipeline and since then he also put a moratorium on new drilling leases for federal lands. His policies effects on oil prices have been compounded by the war but he's made zero actions to remedy what he very much caused.

        • rektrading on 17/05/2022 - 18:25
          +1

          😴 Joe can reduce the prices by removing sanctions but he rather see Americans and the world suffer than lose face as the leader of the free 🌎.

    • Zondor on 19/05/2022 - 11:41
      -2

      dammit DANIEL ANDREWS

  • rektrading on 17/05/2022 - 18:31

    Gm frens,

    Breaking News

    https://ibb.co/WFdbWQ5

    Could this happen to Australia now that prices seem to start going back up?

  • offal spokesman on 29/05/2022 - 17:13

    capitalism is a cult

    • rektrading on 29/05/2022 - 20:16
      -1

      Capitalism is the only economic system that works.

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