How the Japanese Government taxes Australian gas
The Australian Government is getting less money from our gas exports than Japan is. How can this be?
Combined with the 50 basis points rise in February and March in less than 2 months households are paying the equivalent of a 90 basis point rise in interest rates.
Thu 26 Mar 2026 14.00 AEDT
Photo: AAP Image/Darren England
The petrol price figures from yesterday now show that unleaded prices have risen 31% since the Iran War began – up some 59.5 cent per litre.
Earlier last week, senior research fellow at the Australia Institute, David Richardson calculated the impact of petrol price rises compared to the cost of a 25 basis points interest rate rise. Last Friday we estimated it at roughly the same cost.
Now the increase in petrol prices is costing Australians around $784 million – i.e. that’s how much extra we’re paying for fuel. By comparison the cost of a rate rise is just $495m
So the cost of the petrol price rises so far is equivalent to 1.6 times the rate rise or a 40 basis points rates rise.
Combined with the 50 basis points rise in February and March in less than 2 months households are paying the equivalent of a 90 basis point rise in interest rates.
That. Is. Brutal.
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The Australian Government is getting less money from our gas exports than Japan is. How can this be?
The problem is, that the ABC article was not based on data from the Department of Social Services. Rather, it was based on research compiled for a life insurers lobby group, whose board are all CEOs of insurance companies.
