13:37 22May08 AAP-No silver bullet for petrol says PM
ADELAIDE, May 22 AAP - There is no silver bullet to bring down the price ofpetrol, Prime Minister Kevin Rudd says.
With fuel prices passing $1.60 a litre and the federal opposition calling on thegovernment to take action, Mr Rudd said measures had been put in place torestrain fuel prices, such as the adoption of a national monitoring scheme.
He said the federal budget also had provided a package of tax cuts and othermeasures to help families with day-to-day costs.
"If you put all those measures together, depending on the family, depending onthe number of kids, depending on where they fit in the overall scheme of things,we have done as much as we physically can to provide additional help to thefamily budget, recognising that the cost of everything is still going throughthe roof," the prime minister told reporters in
Adelaide.
"The cost of food, the cost of petrol, the cost of rents, the cost ofchildcare.
"What we've tried to do is say here's a helping hand with what we can do foryour taxes and your childcare rebates, etcetera, while recognising that pricesare still going up."
Ahead of Mr Rudd's comments, the price of oil struck new highs - reaching $US134a barrel in Asian trade this morning - prompting a warning from one motoringorganisation that the worst is yet to come.
At the same time petrol has pushed through the $1.60 mark in some capitalcities, while diesel hit $1.80 a litre.
Opposition finance spokesman Peter Dutton has called on the government to act.
"The government has been full of rhetoric about reducing petrol prices," MrDutton said in a statement.
"Mr Rudd promised Australians cheaper fuel, and as we watch prices rocket past$1.60 per litre in some capital cities, it is time for him to act."