Australia Cuts Fuel Tax in Half as Middle East War Squeezes Supply

Australia is halving the fuel excise on gasoline and diesel for three months in a bid to alleviate financial stress from spiking fuel prices, the government said on Monday. The measure would reduce the cost of filling up a tank by about US$13, or AUS$19, according to the government, which has taken several measures to protect fuel supply and consumers from price shocks since the war in the Middle East began a month ago. Alongside the halving of the fuel excise duty on gasoline and diesel, Australia's government will also reduce the Heavy Vehicle…