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Australia's first oil rig was erected there in 1866. [3] Between the 1920s and 1950s, the Shell Company of Australia and Vacuum Oil Company Australia Pty Ltd were selling petrol through single-brand service stations while Golden Fleece, Independent Oil Industry and Commonwealth Oil Refineries Ltd operated through multiple-brand stations. [4]
The main fuel tax in Australia is an excise tax, to which Goods and Services Tax ("GST") is added. Both taxes are levied by the federal government. Both taxes are levied by the federal government. In Australia the GST (currently 10%) is applied on top of the fuel excise tax.
On 1 January 2012, the Nigerian government headed by president Goodluck Ebele Jonathan, tried to cease the subsidy on petrol and deregulate the oil prices by announcing the new price for petrol as US$0.88/litre from the old subsidised price of US$0.406/litre (LAGOS), which in areas distant from Lagos petrol was priced at US$1.25/litre.
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EG Australia is the Australian subsidiary of British company EG Group which operates the EG Ampol chain of petrol stations, selling Ampol (formerly Caltex Australia) fuel at its stations. As of October 2022 [update] , there are over 540 EG Ampol petrol stations.
Reddy Express, formerly Coles Express, is an Australian chain of convenience stores at Shell Australia petrol stations. Until it became controlled by Viva Energy in May 2023, [1] Coles Express was a trading name of Coles Group. [2]
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The economic context that led to the eventual proposition of the 1973 Prices Referendum was driven by numerous economic factors. A resource boom derived from the demands of Japanese industrialisation and increased capital inflows due to the Australian dollar being perceived as undervalued drove Australia's economy in the early 1970s. [5]