Politicians have called on Chancellor Jeremy Hunt to freeze fuel duty rates at next month’s Spring Budget in what could be a major boost for petrol and diesel drivers.
According to The Sun, around 40 Conservative MPs and peers have written to Downing Street calling for fuel fees to remain the same.
Sources claim that eight former Cabinet members are among the signatories calling for a freeze to fuel duty charges and retention of the 5p cut first introduced during the cost of living crisis.
Their letter reportedly reads: “It would be catastrophic for British motorists if fuel duty rises in line with inflation.”
Fuel duties are extra fees slapped on motorists when they top-up their cars with petrol or diesel at the pump.
Keeping fuel duty frozen and keeping the 5p cut is expected to cost the Treasury around £5million in revenues.
However, the Government has since made fuel duty costs a major part of their new ‘Plan for Drivers’ released back in October 2023.
This could suggest the savings will be retained for the time being especially just months to go until an expected General Election.
The Plan boasts about “decisive action” taken to reduce fuel duty in response to rising petrol and diesel prices.
The new report adds: “There has been no increase in the main fuel duty rate since January 2011.
“In March 2023, the rates of fuel duty were maintained for another year, by extending the temporary 5p fuel duty cut and cancelling the planned inflation increase for 2023 to 2024.
“The current cut along with the inflation freeze represents a saving for households and businesses this year of overall around £5billion, and £10billion over the two years following the introduction of the cut.”
According to RAC Fuel Watch, petrol and diesel prices have come down since the 5p cut was introduced back in 2022.
However, costs still remain higher than figures recorded back in 2021 with prices “likely to rise” according to the experts.
Petrol prices remain at 142.90p per litre after four months of gradual declines.
Meanwhile, diesel fees stand at 151.30p per litre, just a fraction higher than the 148p per litre rates recorded back in January.
