00:02Filling up before the excise cut hits the brakes.
00:05I'm just getting here this morning before that happens.
00:08It's going to be really hard for us, but then we're going to figure it out.
00:12When the clock strikes midnight, the Federal Government's fuel subsidy will end,
00:17drivers taking a distinctly Australian attitude to prepare for the price pinch.
00:22It is what it is, I guess, yeah.
00:24We have to pay the price of the war, unfortunately.
00:27I'm not happy to go back to that, but nothing really the Government can do.
00:31It's the end of a four-month reprieve that's come with a multi-billion dollar bill.
00:36We're always clear that the relief was temporary.
00:40That temporary 32 cents per litre relief started in April,
00:44when the global oil supply shock from the war took hold.
00:47It was tapered down to 16 cents last month.
00:51From tonight, it'll be zero, piling on fresh cost pressures for drivers and businesses.
00:57This is just going to be the breaking point for a lot of smaller companies.
01:02I mean, the kiddies empty from the last lot.
01:05The renewed standoff in the Strait of Hormuz has seen fuel prices skyrocket over the past four weeks.
01:11Petrols up by around 40 cents a litre, now fetching $1.98.
01:17Diesel much higher, up by nearly 60 cents to $2.43.
01:22Experts predict it could take up to 10 days for the full impact of the excise to flow on to
01:27prices at the bowser.
01:29But economists say the key to permanent fuel price relief lies with the two warring countries, Iran and the US.
01:38If we can get an enduring peace, we will see the oil price start to ease.
01:42Hopes of peace, the cost of living relief.
01:48If we can get an enduring peace, we can get an enduring peace.
01:52We can get into account.
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