delete Petroleum Excise (Prices) Amendment Regulations 2004 (No. 1)
Amends the Petroleum Excise (Prices) Regulations to modify how petroleum excise prices are determined, calculated, or reported. Affects entities involved in petroleum production, refining, and wholesale supply chains.
Excise regulations on petroleum pricing add compliance costs and administrative burden to an already heavily taxed sector. Such price-related regulations distort market signals and create unnecessary friction in the petroleum supply chain. Australians are better served by competitive markets than regulatory interventions in petroleum pricing, especially when the underlying excise itself already imposes significant costs on the sector.