Petrol is set to get a little cheaper from Wednesday.

As expected, the Government has announced it’s temporarily slashing the fuel excise in half as part of the budget.

The change comes into effect from midnight Tuesday 29 March..

That means prices should fall by about 22 cents a litre over the coming weeks.

Australia’s consumer watchdog, the ACCC, will be keeping an eye on prices at the bowser – making sure that retailers are passing the savings on to drivers.

As of Monday, the average cost of litre of unleaded petrol in Canberra sat at $2.08.

Treasurer Josh Frydenberg said the change to the excise is set to save a family, with two cars filling up once a week, about $30 a week equating to about $700 over the coming six months.

The cut to the fuel excise is set to remain in place for the next six months.

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