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Prime Minister Anthony Albanese has confirmed the government will halve the fuel excise for a three-month period. It means the cost of petrol and diesel will be reduced by 26.3 cents per litre for three months. "We're making fuel cheaper today because we understand that Australians are under serious pressure," he says. Albanese has also confirmed Labor will reduce the heavy vehicle charge from 32.4 cents per litre to zero for three months, saying it'll help truckers under real pressure due to the war in the Middle East. Treasurer Jim Chalmers says halving the fuel excise and cutting the heavy vehicle road user charge will cost the budget about $2.55 billion. #FuelCrisis #CostOfLiving #FuelExcise #ABCNews Subscribe: http://ab.co/1svxLVE ABC NEWS provides around the clock coverage of news events as they break in Australia and abroad. It's news when you want it, from Australia's most trusted news organisation. For more from ABC NEWS, click here: https://ab.co/2kxYCZY Watch more ABC NEWS content ad-free on ABC iview: https://ab.co/2OB7Mk1 Go deeper on our ABC NEWS In-depth channel: https://ab.co/2lNeBn2 Like ABC NEWS on Facebook: / abcnews.au Follow ABC NEWS on Instagram: / abcnews_au Note: In most cases, our captions are auto-generated. #ABCNEWS #ABCNEWSAustralia