Australia Agrees Fuel Duty Reform

The Australian Government has reached an agreement with the Opposition on the implementation of fuel excise duty hikes originally proposed in the 2014 Budget.

The 2014 Budget, presented in May 2014, proposed a series of gradual increases in the excise duty rate on domestically produced ethanol from July 1, 2016. The increases were intended to take place over the course of five years, until the rate reached 12.5 cents per liter. The excise rate for biodiesel was to be increased over five years from July 1, 2016, until it reached 50 percent of the energy content equivalent tax rate.