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FED:Fuel excise extended but lower relief to come

Cost relief at the bowser has been extended for another month, although the savings won't be as substantial.

Prime Minister Anthony Albanese has announced a limited extension of the fuel excise, making petrol and diesel 16 cents per litre cheaper than the full price in July.

The current saving is 32 cents a litre after it was cut three months ago, following the outbreak of war in the Middle East and ensuing strangulation of global oil supplies.

That discount is scheduled to expire on June 30, by which time it will have cost the federal budget an estimated $2.9 billion in foregone revenue.

"(The) decision recognises that despite the welcome and substantial drop in the price of petrol recently, we know people are still under pressure," Mr Albanese said.

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