Australian Diesel Prices Fall By 70 Cents
Gas prices in eastern Australia have trended downward over the last month. This follows previous concerns regarding companies inflating prices despite their social license to operate. Shell Australia Chair Cecile Wake testified before a Greensled Senate inquiry regarding potential gas taxes. Wake stated that implementing such a tax would be an ill-advised move. The testimony highlighted concerns that new taxes risk future investment in the gas sector. There is broad political agreement that Australia will require increased gas supplies in the future. Opposition leader Angus Taylor argues that a new gas tax would discourage investment during the current energy crisis. Taylor claims the tax's motive is to stop investment rather than generate revenue. Western Australian Premier Roger Cook stated he does not support a proposed 25% flat tax on gas.
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Sources · 7 independent
“we've actually seen gas prices in eastern Australia going down over the last month and it's great that the ACCC and the federal government”
“Shell Australia chair Cecile Wake says it would be a very ill-advised move. So what are they actually arguing? Yeah, so the big argument is that having a tax like this risks future investment in gas.”
“Angus Taylor, he doesn't think this is a very good idea to bring in this sort of tax... if you tax something, you get less of it.”
“He thinks that particularly in the context of the energy crisis we're experiencing, it's not the way to go.”
“Woodside have argued that a 25% flat tax would effectively kill its browse gas project off the West Australian coast. And Premier Roger Cook has said he doesn't support it because he thinks it would be particularly bad for Western Australia.”
“and diesel prices fall by at least 70 cents in most capital.”
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