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Speaker 1: Territorians have largely welcomed the federal government's cut to the

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Speaker 1: fuel excise, but I think it's safe to say that

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Speaker 1: we're all really watching these petrol prices very closely this

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Speaker 1: morning to see if all of the petrol stations actually

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Speaker 1: pass on those savings to customers. They were all too

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Speaker 1: quick to put them up the minute that the terminal

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Speaker 1: gate price went up. Well in some cases, you know,

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Speaker 1: within an hour, you guys were texting me and saying,

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Speaker 1: we'll feed the terminal gate price is at this and

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Speaker 1: the price has already gone up. But are we going

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Speaker 1: to see those prices come down just as quickly as

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Speaker 1: the terminal gate price is coming down and that fuel

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Speaker 1: excise comes into play now? The federal government on Monday,

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Speaker 1: of course, unveiling those plans to slash the fuel excise

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Speaker 1: on petrol and diesel by twenty six point three cents

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Speaker 1: a leter. It's also scrapped the heavy Vehicle road user

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Speaker 1: charge and the arrangements. As I said, they come into

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Speaker 1: effect today, they're going to remain in place for three months.

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Speaker 1: At the same time, we know that the Northern Territory

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Speaker 1: government have also well, they've enacted the price Exploitation Prevention

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Speaker 1: Act for the first time, they say, since nineteen forty nine.

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Speaker 1: Now joining us on the line is the Treasurer of

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Speaker 1: the Northern Territories, also the Minister for Logistics and Infrastructure,

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Speaker 1: Potholes and Petrol, Bill Yan, Good morning to you. Oh,

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Speaker 1: we've got him on the wrong line. Good morning to you, Bill. Oh, sorry, mate,

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Speaker 1: I've got you now.

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Speaker 2: Good morning, Good morning Katie, and good morning to all

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Speaker 2: your listeners across the pop inn and Petrol. Minister for

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Speaker 2: petrels on everybody's lips today, I can assure you it

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Speaker 2: certainly is.

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Speaker 1: Now. Tell me, have you been for a bit of

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Speaker 1: a drive around this morning? Have I looked at those

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Speaker 1: petrol prices? How are things tracking from your perspective?

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Speaker 2: Yeah, I haven't looked. I haven't been able to. I've

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Speaker 2: been locked in the office doing all sorts of stuff

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Speaker 2: this morning. But I've had lots of reports from people

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Speaker 2: who are driven in from Palmo or out in autumn

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Speaker 2: suburbs and ed telling me that they've seen that immediate

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Speaker 2: drop in prices at the bowser, which is really good

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Speaker 2: to see. We've got to let out to retailers earlier

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Speaker 2: this week, saying that with that reduction exercise by twenty

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Speaker 2: six point three cents polluter that we're expecting them to

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Speaker 2: pass it on to consumers, and by all accounts, so farkadie,

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Speaker 2: they're doing the right thing, which is great to see.

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Speaker 1: Well, some seem to be bill but not everybody. But

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Speaker 1: I want to know with the fuel excise, with this cut,

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Speaker 1: is that off at the bowser or is it off

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Speaker 1: at the terminal gate because we are seeing a drop

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Speaker 1: in the terminal gate prices as well. So the reality

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Speaker 1: of it is if you look at the excise and

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Speaker 1: you look at the drop at the terminal gate, if

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Speaker 1: they're combined, well we should be seeing a much larger

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Speaker 1: drop than what we currently are.

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Speaker 2: Yeah, I'd have to check. I think the exercise is

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Speaker 2: included in that terminal gate price case because when you

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Speaker 2: look at terminal gate and you look at then the

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Speaker 2: margin between that and the retailer, what's coming out at

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Speaker 2: the bowser? I said that is the margin. So my understanding,

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Speaker 2: I'm pretty sure would be that change in that twenty

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Speaker 2: six point three percent would be that reduction at terminal gate.

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Speaker 1: Okay, yeah, because today for your unlettered it's at two

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Speaker 1: dollars eighteen point eight then when you look at the diesel,

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Speaker 1: it's at three dollars. That's comparatively to all three dollars one,

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Speaker 1: I should say that's comparatively to three dollars thirteen yesterday.

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Speaker 1: Then you go across to the bowser, you know the

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Speaker 1: large majority, like fuel Express is at two dollars ninety

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Speaker 1: seven point five. But then you go all the way

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Speaker 1: up to three dollars twenty two point eight, like some

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Speaker 1: of them still seem like they're having a lend bell.

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Speaker 2: Yeah, and look and this is I suppose yesterday we

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Speaker 2: said we declared petrol and diesel on their derivatives under

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Speaker 2: the Price Exportation Prevention Act. So now and we've gb

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Speaker 2: kip Locks was also declared the controller, so we now

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Speaker 2: have the ability if we see exportation we believe his

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Speaker 2: exploitation in the market and the consumers have been taken

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Speaker 2: advantage of, we can go now and request disclosures of

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Speaker 2: pricing regimes, how retails are determined, what those costs are.

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Speaker 2: So it's a pity. It's a pretty big stick to use, Katie.

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Speaker 2: I really don't want to have to use it because

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Speaker 2: I know where retails have been doing the right thing.

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Speaker 2: So it's there should we need to. We really hope

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Speaker 2: that we don't have to. Look, we still continue to

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Speaker 2: monitor the prices daily through Treasury and I get a

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Speaker 2: report every morning. So as we start to see some

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Speaker 2: of those prices change and they're not changing fast enough,

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Speaker 2: because you're right and consumers are right, everyone was real

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Speaker 2: quick to jam those prices up, and now we would

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Speaker 2: expect to see those retails start to drop those prices

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Speaker 2: just as quickly.

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Speaker 1: So TREASURER, tell me, what does the act actually enable

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Speaker 1: you to do if those prices don't come down? Like obviously,

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Speaker 1: it means that those retailers, if they're if they're not

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Speaker 1: playing fair, that they have to sort of open in

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Speaker 1: the books and show you their margins and show you

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Speaker 1: what the go is. But will it then be able

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Speaker 1: to enable you to force them to bring those prices?

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Speaker 2: Yeah, well, and that's the next part within that act. Twok.

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Speaker 2: So disclosure is the first part. And if we see

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Speaker 2: and can determine exploitation under that act, then the second

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Speaker 2: part of the app is we can then go in

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Speaker 2: and set prices. And that's pretty extraordinary and pretty drastic measures.

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Speaker 2: Should we have to do that again, it's something that

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Speaker 2: we never have to do because I said, our retails

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Speaker 2: have been doing the right thing. And more to the

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Speaker 2: point too, I think, Katie, is that consumers and territorians

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Speaker 2: have been doing the right thing too, because we've got

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Speaker 2: to keep the territory moving, as simple as that, and

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Speaker 2: everyone plays a part in that. Likes us consumers only

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Speaker 2: buying what you need, our retailer is doing the right thing,

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Speaker 2: and also the wholesale So it's a bit of a

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Speaker 2: combined effort across the entire spectrum, because if we can't

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Speaker 2: keep the territory moving, we come to a grinding hold.

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Speaker 2: Them were all in trouble.

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Speaker 1: That's exactly right. And you know, for our farmers, for

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Speaker 1: some of our businesses, for those working in transport like

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Speaker 1: it has a big impact. But that fuel security for

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Speaker 1: them is massive right now as well. Is there any

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Speaker 1: update when it comes to our fuel security?

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Speaker 2: Look, Katie, and you're absolutely right on that security and

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Speaker 2: that longer term future. I've been talking to some retailers

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Speaker 2: over the last few days and the worry is is

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Speaker 2: that if prices and supply is a problem, and the

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Speaker 2: prices keep increasing, then we'll get to a point where

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Speaker 2: somewhere smaller retailers might not be able to afford to

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Speaker 2: buy fuel to put in their underground tanks to sell.

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Speaker 2: So it won't be it won't be a supply problem,

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Speaker 2: it will be a cost issue that at the moment,

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Speaker 2: we've got oversight out for about three weeks on vessels

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Speaker 2: coming through, so so we haven't we haven't missed a

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Speaker 2: ship here in at territory yet, We've got supply coming

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Speaker 2: into the territory as we need it so and our

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Speaker 2: supply levels are very similar to what it's been reported nationally.

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Speaker 2: So we've got over thirty days of supply sitting here

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Speaker 2: in the territory plast the ships that are coming in.

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Speaker 2: So at this point in time we're doing.

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Speaker 1: That's good, but it's it's still a bit frightening to

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Speaker 1: think that, you know, like, what are we talking there

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Speaker 1: six weeks that we're certain about.

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Speaker 2: Well, so we've got thirty days supply, why I said,

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Speaker 2: very close to that national average sitting here in Darwin

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Speaker 2: right now to supply to territory, and then we've got

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Speaker 2: three weeks of supply come oh so three ships coming

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Speaker 2: to maintain our normal supply. They said. The difficulty is

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Speaker 2: that oversight outside that three week window, and that's something

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Speaker 2: Canberra is trying to do now, and that we need

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Speaker 2: to rely on Canberra to be able to do that work.

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Speaker 2: To make sure that here in the territory we get

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Speaker 2: the supply we need. We use a bit more diesel

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Speaker 2: than anybody else. I think we're the high hues of

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Speaker 2: per capita in the country and that's for a couple

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Speaker 2: of reasons, Like our supply changes really long. And know

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Speaker 2: we quite rely on trucks to move stuff around or

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Speaker 2: is by boat or ship. And the power generation out

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Speaker 2: in our remote areas is done by diesel too. So

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Speaker 2: diesel supplies of course are critical and are very closey

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Speaker 2: to make sure that we've got the supply we need

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Speaker 2: said keep the territory moving along.

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Speaker 1: They sure are, I mean when you talk about it

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Speaker 1: like that, like they literally we rely on diesel to

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Speaker 1: be able to you know, to power us up in

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Speaker 1: different locations, not only for you know, for our supply,

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Speaker 1: you know, in terms of everything else and in terms

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Speaker 1: of transport, et cetera. But like you've just touched on there,

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Speaker 1: you know, we've got diesel turbines that we use within

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Speaker 1: power and water to make sure that different communities are

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Speaker 1: actually able to keep the lights on.

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Speaker 2: Yeah, that's that's right, Katie. And of course, and this

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Speaker 2: is the thing is that our supply change had a

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Speaker 2: few more links in them than the rest of the country,

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Speaker 2: so that that supply and ongoing supply is critical us

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Speaker 2: and that's something we're advocate to camera very very strongly,

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Speaker 2: is that our supply change need to be strong so

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Speaker 2: we can keep delivering goods and services and essential services

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Speaker 2: to everybody right across the territory.

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Speaker 1: Minister, we also know that the heavy vehicle road user

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Speaker 1: charge is going to be reduced to zero for the

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Speaker 1: same period, so for that three months to help truck

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Speaker 1: drivers absorb the global fuel shock that's been triggered, of

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Speaker 1: course by this war in Iran. What's this going to

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Speaker 1: mean for the industry? With your hat on as the

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Speaker 1: Logistics and infrastructure minister.

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Speaker 2: Yeah, I said, that's good news for our truckees moving

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Speaker 2: stuff around. So those road user charges will be dropped

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Speaker 2: and we don't apply the road user charges in the

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Speaker 2: same respects as the rest of the country, so they

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Speaker 2: are increasing, probably high than now as we've reduced that

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Speaker 2: change in roads user charges was only going to be

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Speaker 2: three percent. I think nationally they were looking at six

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Speaker 2: percent and we don't do the charge age at the

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Speaker 2: same point in time as the rest of the country,

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Speaker 2: so ours were later out in October, so we've got

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Speaker 2: a bit of a buffer and some breathing space. And and

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Speaker 2: here's something really quite interesting. It's just just come through

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Speaker 2: to me, is it. With fuel price on the rise,

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Speaker 2: the nt police will be trying lower mission patrol options

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Speaker 2: including bicycle, scooters and foot ships.

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Speaker 1: A bit of an april there, is it.

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Speaker 2: That's something that's something pretty interesting that police are out

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Speaker 2: there doing a bit to reduce fuelures.

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Speaker 1: You could just have them on horseback from now on.

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Speaker 2: Yeah, what's right? You know we said the cheap eruption

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Speaker 2: and we create some fertilizer at the same time.

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Speaker 1: Yeah, yeah, exactly. Hey, just on that though, on a

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Speaker 1: serious note, again, what is the go I mean in

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Speaker 1: terms of fertilizer concerns for our farmers? What are you

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Speaker 1: being told at the moment?

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Speaker 2: Yeah, well, we know that there's a shortage of fertilizer

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Speaker 2: coming into the country, so in that for a ag sector,

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Speaker 2: that's that's going to be an issue. Luck, in the

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Speaker 2: majority of the territory, we realize the cattle industry is

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Speaker 2: king at the end of the day they of course,

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Speaker 2: they just rely on grass growing naturally, so that's a positive.

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Speaker 2: But for those in our agg sector who rely on fertilizers,

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Speaker 2: it's something we need to be acutely aware of to

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Speaker 2: make sure that we're getting the necessary supplies in to

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Speaker 2: keep our ag sector ticking along too, because with the

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Speaker 2: rise in fuel costs and everything else, they're going to

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Speaker 2: be hurting as well.

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Speaker 1: Yeah, Look, we are going to catch up with NT

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Speaker 1: Farmers a little later on the show. We'll also be

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Speaker 1: catching up with the Chamber of Commerce to hear more about,

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Speaker 1: you know, some of the concerns from our businesses when

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Speaker 1: it comes to these issues with fuel bill. Before I

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Speaker 1: let you go, when you look at you know, these savings,

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Speaker 1: when you look at this fuel excise cut, like it's

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Speaker 1: obviously great news for right now or for the next

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Speaker 1: three months, but is it going to mean a hit

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Speaker 1: to the Northern Territory budget. Obviously the federal government is

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Speaker 1: going to have to absorb these you know, these cuts

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Speaker 1: and the cost somehow. But is it going to have

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Speaker 1: an impact on the Northern Territory budget.

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Speaker 2: Look, the increase in fuel costs, say we'll rise, will

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Speaker 2: drive up cost of living and of course, will drive

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Speaker 2: up the cost of doing business here territory, so that

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Speaker 2: will have an effect on government and an effect on

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Speaker 2: our budget. What they're trying to do at the moment

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Speaker 2: nationally is there's a meeting tomorrow for all the state

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Speaker 2: and territory leaders, so all the first ministers about this

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Speaker 2: bumping GST funting and how that will work and how

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Speaker 2: it can be used and to support whether it's the

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Speaker 2: state's or for us here in a territory. So that's

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Speaker 2: still being coordinated at the moment. Treasury here with me

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Speaker 2: are doing a heap of work on what that may

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Speaker 2: look like, what cost of living measures we may be

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Speaker 2: able to implement, and how we can use that increase

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Speaker 2: in GST because of that increase in fuel. But that's

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Speaker 2: still trying to be worked out nationally, and hopefully we'll

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Speaker 2: see a resolution on this tomorrow earn.

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Speaker 1: Here that we could lose part of that boost to it,

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Speaker 1: you know, that GST boost to absorb these costs Nationally.

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Speaker 2: I don't think so, Katie, and I think that's what

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Speaker 2: they're trying to figure out at the moment, because I

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Speaker 2: think every state and jeopory looks at this incumbent from

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Speaker 2: from a different perspective. So yeah, reaching consensus has been

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Speaker 2: pretty difficult. We've got so we've got a bit of

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Speaker 2: an idea of what we want to do. I wish

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Speaker 2: I could come out now, pudding and say what we

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Speaker 2: want to do, but we're still working up our plan and.

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Speaker 1: Go on bell. We won't tell, we won't tell the

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Speaker 1: Prime Minister.

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Speaker 2: I'm going to be working with talking to some other

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Speaker 2: treasurers across the country today about what we're thinking and

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Speaker 2: what they're thinking, to see if we can sort of

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Speaker 2: drive the consensus so we can get things moving.

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Speaker 1: No fair enough, well, Bill Yan, the Treasurer, the Minister

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Speaker 1: for Infrastructure and Logistics, petrol potholes. Good to speak with

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Speaker 1: you this morning. I really appreciate your time.

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Speaker 2: Cheers, Katie, thanks very much.

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Speaker 1: You have a great day you too, Thanks so much,