Fuel duty: Drivers warned of petrol and diesel costs – ‘return to normalcy won’t be quick’
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Rishi Sunak announced a five pence reduction in fuel duty during his Spring Statement on Wednesday, which is set to last 12 months. While many were satisfied that the Chancellor made the change, others were concerned that the savings would not be passed onto drivers.
Paul Holland, MD of UK Fuel at Allstar Business Solutions, praised the move, but warned that many drivers may still be massively impacted by the high fuel prices.
Speaking to Express.co.uk, he said: “In ordinary circumstances we might have expected fuel duty to remain high, in order to incentivise a move to cleaner fuels, as the Government is still very much committed to decarbonisation and switching to electric vehicles (EVs).
“However, we have rightly seen the UK Government follow other countries in reducing fuel duty, in order to keep the price at the pump from rising to the point that everyday life and business operations are affected further.
“There was considerable pressure on the Government to address the rising cost of living crisis and the pressure this will exert on both the general public as well as the UK’s businesses.
“We along with many in the sector welcome the news that fuel duty will be reduced by five pence per litre for the next 12 months – ‘the biggest cut to all fuel duty rates ever’.
“Our goal is to make paying to refuel a fleet of vehicles as cost-effective and convenient as possible.
“This reduction in fuel duty helps our ongoing work in supporting our customers to achieve material savings through better management to help drive real efficiencies.”
Rishi Sunak announced a five pence reduction in fuel duty during his Spring Statement on Wednesday, and is set to last 12 months.
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It is hoped that the temporary year-long cut will be worth around £100 for the average car driver and £200 for the average van driver.
A saving of £1,500 is being estimated for the average haulier, based on average fuel consumption.
Fuel prices have increased dramatically over the last month as a result of global oil prices as well as the Russian invasion of Ukraine.
With many world powers boycotting Russian fuel and gas, attention is being focused on other oil exporting nations, including Saudi Arabia and Iran.
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