The Government has temporarily reduced the Mineral Oil Tax applying to petrol, auto diesel and Marked Gas Oil (MGO). Inclusive of the reduction in the NORA levy, these changes save consumers and businesses:
• 27 cent per litre of petrol,
• 32 cent per litre of auto diesel, and
• 7.4 cent per litre of MGO.
These temporary reductions were due to expire on 31 August but were extended in full until 31 October with a phased restoration to pre-reduction levels taking place between 1 November and 28 February 2027.
To avoid any cliff edge removal of supports, the Government announced a pathway to gradually restore excise duty rates to pre-reduction levels, as follows:
|
|
Petrol
|
Diesel
|
MGO
|
|
1 November
|
5c increase
|
7c increase
|
2.7c increase
|
|
1 December
|
5c increase
|
7c increase
|
|
|
31st January
|
7c increase
|
8c increase
|
2.7c increase
|
|
28th February
|
8c increase
|
8c increase
|
|
The temporary excise reduction remaining on each of these fuel products over the course of the restoration will be as follows:
|
|
Petrol
|
Diesel
|
MGO
|
|
1 November
|
20c remaining
|
23c remaining
|
2.7c remaining
|
|
1 December
|
15c remaining
|
16c remaining
|
2.7c remaining
|
|
31st January
|
8c remaining
|
8c remaining
|
0c remaining
|
|
28th February
|
0c remaining
|
0c remaining
|
0c remaining
|
