The world's biggest oil producer, Saudi Arabia, has called for production to be slowed while demand has risen in the United States because of winter. Brewers and hotels said higher taxes were expected to push up beer prices by between five and 10 cents a glass. Lion Nathan, which owns the Tooheys and Hahn brands, said yesterday that tap beer sales had fallen by 4 per cent because of the government's decision to increase prices in pubs and clubs by 9 per cent on July 1. It warned that further price rises would lead to job losses, especially in country pubs. Australian Hotels Association Victorian executive director Alan Giles said another beer price rise could drive many pubs to the wall.
Excise duty is now twice as much as it used to be.
Tobacco company Philip Morris said it expected a 4.5 per cent increase, taking the tax on a single cigarette from 19.5c to 20.4c. The Age Company Ltd 2001. Any unauthorised use, copying or mirroring is prohibited.