Fuel prices surge as excise discount ends

Fuel prices are rising across Australia after the 16 cents per litre fuel excise discount ended at midnight. The average national price for unleaded petrol is $1.97 per litre and $2.39 for diesel, with prices expected to increase further as service stations replace their stock. Treasurer Jim Chalmers has ordered the ACCC to monitor service stations for price gouging but has ruled out reintroducing the excise cut, while property values declined by 0.7% nationally in July, marking the largest monthly drop since December 2022.See omnystudio.com/listener for privacy information.