00:02So drivers filling up at the petrol pump tomorrow don't expect a sudden drop in how much you're
00:08paying despite changes being made by the federal government.
00:11At the moment, Jo, as of today, the cost, the average cost of unleaded petrol is about
00:17$2.58 and for diesel it's around $3.23.
00:20That is a slight increase on yesterday's figures.
00:24So we know that cost is an issue in this fuel crisis and to try and alleviate that, the
00:30federal government yesterday announced that there would be a halving of the fuel excise.
00:34Now it's going to come into effect tomorrow but it won't actually even pass through parliament
00:39until late tonight so it's a very quick turnaround.
00:42What that means though for drivers is that the petrol that's already at stations, that
00:48was purchased at the higher rate so you won't suddenly see stations reduce the cost there.
00:53It's not until the petrol stations need to buy new fuel for those stations where you will
00:59then see the reductions.
01:00In terms of what the reductions look like, the government's estimating for a 65 litre tank
01:06you'll save about $19.
01:08The Treasurer, Jim Chalmers, was speaking earlier today though trying to manage expectations
01:13saying that this won't change overnight.
01:16The fuel in the tanks right now has been purchased at the higher rate and so people should expect
01:23it would take, you know, somewhere between maybe one and two weeks for the full benefit
01:27of the excise to flow through and I think that's a really important question.
01:31I want to manage expectations on that front because people shouldn't rock up at five past
01:36midnight tonight and expect to see the full benefit passed on.
01:42Now at a federal level yesterday at National Cabinet there was that agreement that the federal
01:46government would reduce the fuel excise.
01:48Yes, the states agreed to a conversation around how they wouldn't be keeping the GST revenue
01:54from fuel and therefore that would actually mean a greater saving for motorists at the
01:59bowser.
02:00Today the states have had a conversation.
02:02They haven't been able to come to an agreement so no further reductions in fuel from a state
02:07perspective at least.
02:08And Stephanie, what's the latest on supplies?
02:10It's still the case that there are hundreds of petrol stations around the country that don't
02:15have some forms of fuel.
02:17Yeah, that's right, Jo.
02:18So we're starting to get information almost on a daily basis now about how many stations
02:22have either no diesel or no unleaded petrol.
02:26The latest figures we received today look like there's, well it is, that there's more petrol
02:31stations without fuel of one type or the other compared to figures say from last Thursday.
02:38The only exception to that is WA where more petrol stations have fuel now compared to last week.
02:44We can expect these figures to go up and down.
02:47The government insists supply is not an issue at the moment.
02:50What the problem is, is demand.
02:52More people are buying more fuel.
02:55Energy Minister Chris Bowen was talking in question time today saying that 53 ships are
02:59en route to Australia at the moment.
03:01He is very confident that supply does not remain an issue through to May.
03:06What is a concern at the moment, Jo, is fertiliser.
03:09Australia doesn't make any of its own fertiliser and relies on 60% of it to come through the
03:15Strait of Hamuz.
03:16So today the government says that it's in extended and ongoing conversations with stakeholders
03:21and other countries to look at where we can get fertiliser from, given this is an essential
03:26part of a resource for our farming community as they start to plant more crops.
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