The federal government will put the brakes on the fuel discount after the 16 cent a litre cut ends on Sunday, the prime minister hinted on Tuesday.
Anthony Albanese instead spruiked Labor's other cost-of-living measures such as tax cuts.
"We are conscious of the pressure that families are under," he told reporters in Western Australia.
"We have halved the cut in the fuel excise. We've done that in partnership with state and territory governments.
"We are also have looked at other ways in which we can provide cost-of-living relief."
Mr Albanese met with WA Premier Roger Cook to announce a $4 million pre-feasibility study into a new large-scale oil refinery at Karratha in the Pilbara.
It would be built by WA industrial company Perdaman and is slated to create thousands of jobs in a boost to the local economy.
The facility would be the first new large-scale petrol refinery built in Australia since the 1960s and would join the nation's two existing ones in Brisbane and Geelong.
Resources Minister Madeleine King said the refinery would still be reliant on imported crude oil.
There is potential for oil discovery off the western coast, although it has not yet come to fruition.
"The difference with crude oil, the unrefined product, is that it is storable for much, much longer (than relying on refined fuel)," Ms King told ABC Radio.
"This (would) make a great difference ... to sovereign capacity - being able to have capacity on the west coast to refine crude oil into this product."
The US-led war on Iran, launched in February, has caused global oil prices to skyrocket after the effective closure of one of the world's most important oil corridors.
About one fifth of the world's oil transits through the Strait of Hormuz.
Fuel supplies, refining capability and fertiliser have all been impacted by the ongoing conflict in the Middle East.
The investigation is the first agreement signed under the federal government's $10 million support for feasibility studies into new or existing fuel refining capabilities, announced as part of a $15 billion fuel security package.
The coalition would support the new oil refinery, but wanted it paired with further work on fossil fuels.
"We also need to make sure we are opening up alternative fuel supplies here, not just you know oil and and gas, but also alternative fuels like biofuels as well," National senator Bridget McKenzie told the ABC.
Mr Cook said the new refinery would rebuild his state's capacity to produce and distribute its own fuel including diesel for regional communities.
"While many Western Australians remain anxious about our state's fuel security, we are doing everything it can to address these concerns by working with the Commonwealth to provide steady and experienced leadership," he said.
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