Ampol's (ASX:ALD) shares rose nearly 1% in recent trading on Monday, while those of Viva Energy Group (ASX:VEA) climbed over 1%, both reaching their highest points in over a year, after the Australian government halved the fuel excise on petrol and diesel for three months from Wednesday.

The measure is expected to reduce the price of petrol and diesel by AU$0.26 per liter.

Australia's national cabinet met with state and territory leaders, agreeing to a four-point action plan for a coordinated approach to fuel supply, Radio New Zealand reported Monday. The country is already at the second point of escalation in the plan, "keep Australia moving".