Petrol and Diesel Fuel Prices in Australia

Australia does have its own oil reserves, ranking around no. 38 in the World and does have its own refineries refining crude oil locally.  That being said though it still relies heavily on imports as only around 10% of its own requirements are met from their own production. Most of the fuel is imported from Asia with a quarter of it coming from Singapore.

Fuel tax is imposed by the Australian Government and as of August 22 the rate was 44.2 cents in excise per litre purchased.  74% of all vehicles in Australia use Petrol as their fuel with Diesel users only being 26%.  Unlike the US the rate of tax is the same across all States of Australia, whereas in the US these are governed by each individual state.  The price variations in Australia from state to state are attributed to distribution and marketing costs.