The fuel excise cut has been extended. Here's how much by — and why there's a catch

Cost relief at the bowser has been extended for another month, although the savings won't be as substantial.Prime Minister Anthony Albanese has announced a limited extension of the fuel excise, making petrol and diesel 16 cents per litre cheaper than the full price in July.The current saving is 32 cents a litre after it was cut three months ago, following the outbreak of war in the Middle East and ensuing strangulation of global oil supplies.That discount is scheduled to expire on 30 June, by which time it will have cost the federal budget an estimated $2.9 billion in foregone revenue.Speaking to Sky News on Sunday morning, Albanese said the decision to halve rather than scrap the discount was about giving motorists and businesses some certainty."We know that families are still under pressure, and we also know that the impact of this conflict on the other side of the world will have a long economic tail to it," Albanese told Sky News "But this is about providing some certainty going forward into the future."He also pointed to broader cost-of-living measures landing on 1 July, noting "every Australian worker will get a tax cut" as further relief arriving alongside the reduced fuel discount.Opposition leader Angus Taylor welcomed the extension and said he understood the logic of a graduated taper to the excise, but attributed the initiative to his party