Motorists are being warned to brace for soaring petrol prices as the federal government rules out taking action to reduce costs.

Petrol prices across Australia continue to rise after Russia’s invasion of Ukraine pushed crude oil prices to an eight-year high.

The Morrison government is facing calls to cut the fuel excise, which is taxed at 44 cents per litre, as prices creep beyond $2.

Independent Senator for South Australia, Senator Rex Patrick, told Gareth Parker the government should halve the excise in the coming March 29 Budget.

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