Today is the last day Australians will be able to take advantage of a temporary petrol price cut at the bowser.
The fuel excise cut, which was imposed in March by then-Prime Minister Scott Morrison, will end at midnight tonight.
It’s feared prices will immediately leap, with prices across all the capitals already squeezing wallets.
As of this morning, with the excise still in place, prices are still pushing $2 a litre in most states.
Brisbane is averaging 192.8 cents a litre, followed by Melbourne at 191.6c/L and Sydney at 190.5c/L.
Adelaide is averaging 189.2c/L, Canberra 177.8c/L, Hobart 171.9c/L, Darwin 170c/L and Perth 155.8c/L.
Fuel prices were about $2 a litre when the 22c/L excise cut was put in place in March.
The current Treasurer Jim Chalmers has said the excise cut is too expensive to maintain, with the cost to the government at about $3 billion so far.
Prices at the pump aren’t expected to shoot up straight away.
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There are 700 million litres of fuel currently in the system, providing something of a buffer for drivers.
But when prices do increase, experts are forecasting a rise of about 25c/L.
People are being urged to fill up now, rather than wait.
