Katy Gallagher (ACT, Australian Labor Party, Minister for the Public Service) Share this | Hansard source

I thank Senator Waters for the question. I think the government has been very clear that the effects of the conflict in the Middle East on the Australian economy, on the global economy—whilst they continue to be highly uncertain, the longer this conflict goes on, the more significant those consequences will be. Senator Waters is right that this has been immediately felt at the household level and the business level through those increases at the petrol pump, whether it be for petrol or diesel. We're seeing ministers work in a whole range of industries with industry leaders about some of the effects they're seeing, in particular industries based on that. The government has responded with our National Fuel Security Plan. We've taken decisive action. We've done a range of measures, which I've updated the Senate on this week.

In relation to the fuel excise, the Treasurer has been very clear that the decision to halve the fuel excise and to have that come into effect from 1 April, today—we will see prices come down. It depends on the purchase of that fuel and purchasing fuel that has the excise taken off it, and so, in some places, it will take a little bit longer. We're trying to be upfront with people about that. It's based on contracted supplies, and, as that works through the system, you will see those prices come off. But we've also given the ACCC—for the work they're doing both themselves and through direction from government—the expectation we have for monitoring and ensuring that, where these decisions have been taken, the flow-on effects and the impact and the reduction in the price of petrol are realised at the bowsers by motorists when they fill their cars up, and we expect that to happen as soon as possible. (Time expired)