Australia Broadens Fuel Tax Cut in Attempt to Shield Consumers

Australia will further cut fuel taxes to cushion households from rising prices as the Iran war upends global supply chains.

Prime Minister Anthony Albanese announced a temporary pause in a sales tax increase on fuels on Thursday, shaving fuel excise by 5.7 Australian cents (3.9 US cents) a liter for three months. That comes after Monday’s announcement that the excise duty would be halved, to 26 Australian cents a liter, as well as previous steps to lower costs, such as releasing some reserves.

Most of Australia’s fuel is imported, which has left it exposed to global supply shocks as the ...