Fuel excise cut ends as prices set to jump

The Federal Government has confirmed it will not extend the fuel excise cut beyond 30 June, meaning petrol prices will rise by at least 32 cents per litre, potentially up to 40 cents. The excise cut cost more than $2 billion for three months and successfully helped reduce inflation. Commentators debate whether extending the measure would benefit families struggling with cost of living pressures or worsen inflation and lead to higher mortgage rates.See omnystudio.com/listener for privacy information.