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    Did Anthony Albanese just cement a third interest rate hike in May by cutting the fuel excise?
    Australia

    Did Anthony Albanese just cement a third interest rate hike in May by cutting the fuel excise?

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    40 Comments

    5. Transientmind on

      Hopefully this forces selfish pricks to hurry up and sell all the extra investment properties they leveraged themselves up to the eyeballs for in the hope they could force poorer people to pay for their early retirement.

    6. jm_leviathan on

      Reducing fuel excise while implementing a road user charge for EVs — brilliant work from our progressive Labor government.

    8. Inside-Elevator9102 on

      No. The cutting of excise will reduce headline inflation by .5%. The issue is when the excise returns to normal it will create a pop in the inflation figure.

    9. medicus_au on

      Oh fuck off. One actual positive bit of news and the media has to ruin it.

      If a cure for cancer is ever discovered I’m sure the main story will all be about how bad it is for oncologists. 

    10. RecipeSpecialist2745 on

      Well, it’s a catch-22. You are damned if you do and damned if you don’t. People called for relief, they got it, but wait… something the government cant control is the issue. I am just waiting for all of the political opponents coming out with BS criticism, without actually telling us what they would do in the same instance. And hence, why I hate politics and politicians. The easiest solution would be for Trump to pull back all troops and warships to the states and let the straits open up. Oh, and face the music that he raped a 13-year-old child. So thats not going to happen..

    11. Rodgerexplosion on

      Who cares at this point. There’s no more levers to pull to keep us shielded from what’s coming. Wall us up, nationalise the farms and size the means of production. Soviet Union? I thought you guys broke up?

    13. snrub742 on

      That was happening with or without the cut. Fuck all that could be done from a national standard

    14. ItsStaaaaaaaaang on

      Sure, why not. I’m sure he put the chair that the author of the article stubbed their toe on in the way too. I mean what isn’t he willing to do?

    16. Lost_Tumbleweed_5669 on

      Believe it or not no matter what happens = price gouging

      ACCC needs some boosting.

    17. morts73 on

      Cutting excise is deflationary but the oil price rise exceeds what the government can do. Only an end to the war and supply back to normal will have a material affect on prices.

    19. truckstick_burns on

      Getting rid of the RUC will reduce food costs right?

      Right Woolworths??!?

      Hello?

    22. Wotdatmouffdo on

      ‘everyone’ : YOU NEED TO CUT THE FUEL EXCISE

      PM : ok… cut it in half then…

      ‘media’ : WELP – ALBO JUST CREATED A THIRD INTEREST RATE HIKE.

      fuck all these people.

    24. JARDIS on

      Absolutely insane rhetoric from the media the last couple of weeks on this.

      “Is the government doing enough?”

      Government does something:

      “The government doing stuff is bad actually”

      Also the media:

      “One Nation is kinda based actually and here’s how to sane-wash racism and lack of policy”

    25. planetarybum on

      It was pretty much locked in anyway going by Bullock’s comments. High inflation is pretty much unavoidable at this stage.

    27. m00nh34d on

      I think the inflation assessment here is a bit of a stretch. They’re equating a reduction in excise to inject cash into the economy, when in reality it’s probably just reducing the already inflated prices a little, but still a lot more than normal anyway, so, hardly a “cash injection”.

      They are right about the demand side of things though. Absolutely insane that we would encourage people to purchase more fuel at a time where we’re seeing panic buying and shortages as a result of that. We need to address those assholes hoarding fuel first, before we start making it cheaper for them to hoard more. You can be sure, come April 1st, when (if?) prices drop, there will be queues of cars and trucks at servos all around the country, and those same shitcunts hoarding fuel will be filling up their jerry cans again now that it’s cheaper.

    28. Seppeon on

      I’m confused why cutting these prices for everybody is a good idea at all. Prices are supposed to counteract demand when supply is short? Supply doesn’t magically increase by decreasing prices, demand may increase due to price decrease though.

      It’s true people are suffering from the cost of living and this is a legitimate motivation, I hope they got their tradeoffs right because if they haven’t that suffering could be much worse no?

    29. KingRo48 on

      The problem is: supply is low. Reducing price does not fix it!

      So:
      1. not enough oil – not enough petrol
      2. Price goes up – use reduces slightly
      3. Reduce the excise – lower prices
      4. Demand goes up again – vroom vroom

      Repeat:

      5. There is not enough oil/petrol

      6. Price goes up again

    30. ThimMerrilyn on

      I’d have been happy with leaving the price high if it meant there wasn’t gonna be another interest rate rise but I can see a couple at least before EoY. I doubt 20c/L price drop on fuel for a couple of months is gonna make a difference one way or another

    31. AussyWolf1199 on

      People want him to do something about fuel prices

      He does something about fuel prices

      People are pissed he did something about fuel prices

    32. rja49 on

      Whats the worst thing that can happen from a Trump 2nd term? This, this shit storm of doubling fuel prices in a month from a war based on a Christian crusade and sending the world into a recession. Don’t blame Albo for trying to put a bandaid on a severed artery.

    33. jonnieggg on

      It’s ridiculous. By that logic the massive increase in energy costs should have acted like a rate rise and removed the need to increase rates recently.
      The central banks are playing a very dangerous game right now. There are massive economic headwinds and inflation is unlikely to be the issue. Increasing interest rates and reducing the supply of money into an economic calamity is exactly what they did leading into the great depression. They need to read Ben Bernankies PHD. Reckless

    34. rodgee on

      We were getting another one anyway, how else are they going to lead us into recession !!

    35. uknownix on

      Targeted relief would have been better, as the fuel retailers are just gonna pump up the costs regardless. However, he has to do something so the public will stop busting his chops for things he can’t control.

    38. lister3000 on

      Alp don’t do something, everyones mad, they do the thing, everyone’s like why did they do it

    40. pld89 on

      Did the guardian just cement a rate hike by saying the rate hike is cemented?

      If we get a rate hike we know who to blame now.