Fuel price pain might remain despite talk of Iran peace (opens original article in a new tab)

Australian motorists may not see lower fuel prices despite potential Iran peace talks due to the impending end of the fuel tax cut, which could increase prices by 32 cents per litre. Global oil prices dropped after Trump's announcement but would have minimal impact on Australian prices, which remain lower than pre-war levels due to a halved fuel excise. The government is reviewing the tax cut but plans to end it in July despite its $3 billion cost.

• Australian fuel prices unlikely to drop despite potential Iran peace deal due to ending fuel tax cut
• Global oil prices fell after Trump's Iran peace announcement but would only slightly affect Australian petrol prices
• Fuel excise cut set to end in July, potentially increasing petrol prices by 32 cents per litre if reversed