Planned fuel excise hikes may not go ahead, says Finance Minister

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The Finance Minister has suggested planned increases to fuel excise in October may not go ahead.

Michael McGrath said the government is keeping an eye on rising fuel prices, which are not massively far off levels that prompted cuts in the first place.

At the end of October, the cuts are legally due to unwind - adding 8 cent to a litre of petrol and 6 cent for diesel.

But Minister McGrath says that's under review, as oil barrel prices are rising:

"In mid-July it was around seventy dollars. Today it's over ninety dollars."

"That's because of supply decisions that have been made by those who control these things, so we're not blind to that reality."

"We will consider that in the context of the budget. That's the appropriate time to make a decision, to be well ahead of the end of October date which is penciled in."