The Government today outlined a suite of measures to ease the cost of petrol on Kiwi households in the wake of surging prices.
Here is what was revealed:
- The fuel excise duty will be cut by 25 cents for three months, coming into force at 11.59pm Monday, March 14.
- Government will require petrol retailers to pass on information showing the savings are being passed onto customers.
- The Government will top up lost revenue to the land transport fund to ensure all currently funded transport projects won't be affected.
- The cuts are expected to cost $350 million.
- Road user charges will be cut by 25 cents for three months.
- Will come into force when the changes can be calculated over the 80 different vehicle types and 100 weights.
- Public transport fares to be halved, likely to come into force on April 1.
- To last for three months.
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