Fed: Treasurer predicts petrol price hike tomorrow = 2

AAP General News (Australia)
02-01-2001
Fed: Treasurer predicts petrol price hike tomorrow = 2

Motorists receive another kick in the hip pocket from today when petrol excise increases
in line with inflation, as do beer and cigarette prices.

The latest tax rises will add about 1.7 cents a litre to the price of petrol, five
cents to a middy or pot of beer and 20 cents to a packet of 25 cigarettes.

Labor has condemned the price increases, especially the excise rise on petrol, as further
evidence of the government's deceit on the GST.

But Mr Costello said today's price rise was in accordance with laws passed by Labor in 1983.

"What's happened today is in accordance with legislation passed in 1983 and in accordance
with the practice on 23 occasions under the Labor Party," he said.

"The excise was indexed to the CPI. The CPI indexation of the excise has led to about
one-and-a-half cents per litre (being added to the price of fuel)."

AAP lm/pc

KEYWORD: PETROL COSTELLO 2 CANBERRA

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