The Albanese government temporarily halved the fuel excise, reducing the discount by 26 cents per litre, in response to soaring global oil prices caused by the conflict in the Middle East. The measure is planned to end on June 30. Transport Minister Catherine King told ABC News Breakfast that people should expect the cut to end at that time. Estimates of the measure’s cost to the federal budget differ, with one source citing $2.5 billion and another citing $2.9 billion. The current discount at the pump is reported as 32 cents per litre by one outlet, though this contradicts the stated 26-cent halving without clarification of a prior rate. King indicated the cut would not be extended further, while Prime Minister Anthony Albanese has signalled the government is open to extending the reduction to help cushion motorists from prolonged economic effects of the conflict. One outlet reported Albanese announced a scaled-back extension reducing the discount to 16 cents per litre in July, but this claim is not corroborated by other sources. Albanese welcomed the announcement of a peace deal between the US and Iran to end the war and reopen the Strait of Hormuz, according to one report. The government is also working to secure Australia’s fuel supply by strengthening international relationships with partner nations, according to one source.