At last, some welcome news for my fellow UK motorists as Rishi Sunak confirmed today that fuel duty will be cut by 5p a litre from 18:00 GMT until March 2023.
The announcement comes as UK households struggle with the “cost of living crisis” driven by rocketing fuel and energy prices. This duty cut was part of a package of measures aimed at helping those facing one of the biggest cost of living increases in living memory.
The cut will see a reduction of about £3 to fill the average family car as fuel hits a record high of 167.03p per litre for petrol and nearly 178.97p for diesel.
Whilst this cut is welcome news for motorists, I for one would like to see a public enquiry into the speed at which fuel retailers hiked prices before the impact of recent world events should have filtered through to the forecourt. Even as crude prices begin to ease (with their peak on the 8th March), the upward trajectory of fuel prices so no sign of retreat. This is simply price gouging by greedy fuel retailers taking advantage of current events at the expense of households already feeling the pain of inflation. It’s criminal.
I would go further to suggest that you boycott those fuel retailers leading the way in areas where lack of competition has allowed them to extort motorists for their own gain. It’s simply disgusting.
For me, it’s a bittersweet pill. Taxpayers should NOT be footing the bill and the sooner the UK government wakes up to this the better.
Let us know what you think in the comments.