The Petrol summit won’t make petrol cheaper…
Mr Howard played down the possibility of significant price falls as more biofuels - including ethanol-petrol blends and biodiesel - were used.
“We’ve never represented this as being some kind of comprehensive answer to dearer petrol,” he said. “It can make some contribution over time, but it should not be seen as some magical answer.”
…but it will prop up the sugar-cane industry.
In a move that has shocked no-one, except possibly Today Tonight and A Current Affair, the PM has said the government would not cut fuel excise to reduce petrol prices because it would lose them too much money.
But he says it would cost the Government $380 million to cut the excise by just 1c a litre, and motorists would want a cut of at least 5c to 10 c a litre.
In shock news today, the NRMA has discovered that larger, heavier cars use more fuel than smaller, lighter cars with smaller engines. It was also reported that cars with more mechanical drag (that is 4wds) use more fuel than 2wd cars.
Scientists are investigating.
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