Funding would come from an $8 billion windfall the Coalition expects by cutting the tobacco excise by 80 %.

The relief would last either three months after activation or until the eight‑week average price drops below US$100, whichever occurs first, after which the tax would return to its normal rate.

Treasurer Jim Chalmers slammed the plan, calling it unfunded and a “bad band‑aid” that could push inflation higher.

If the trigger is met, motorists could see about $15 off a typical tank of petrol, but economists warn that a temporary tax cut may increase overall price pressures by putting more money into circulation.