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AUSTRALIAN GOVT EXPECTED TO ANNOUNCE PETROL PRICE CUT THIS MONTH.
CANBERRA, March 1 Asia Pulse - It is expected that the federal government will announce a cut ino petrol prices before Queenslanders vote in the federal by-election for Ryan, which was once considered a blue-ribbon Liberal seat.
The poll will be held on March 17 and Prime Minister John Howard has already said he will do something to cut fuel prices.
But the government will not risk the Budget surplus in order to appease voter fury, making the task more difficult.
Most observers believe the likely fuel price cut will be around 1.5 cents a litre - the amount of the February 1 increase in fuel excise caused by the automatic inflation adjustment.
Even that small cut, too small according to the Australian Automobile Association, is calculated to cost the government $500 million a year.
One thing ...
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Source: HighBeam Research, AUSTRALIAN GOVT EXPECTED TO ANNOUNCE PETROL PRICE CUT THIS MONTH.