Great news for motorists in today’s Budget!
Not only did George Osborne delay the planned 1p rise on fuel – due to kick in next month – but the Chancellor also announced he is cutting 1p off the price of a litre of fuel to come into effect at 6pm tonight.
The 1p rise – which was announced by Labour and due to come into effect in April – was a hugely unpopular move and etyres have back the FairFuelUK campaign calling for it to be scraped.
As well as delaying the rise in fuel duty until 2012, the Chancellor also announced that the fuel duty escalator has been cancelled
The news comes as fuel prices at the pumps have soared to record highs, with diesel passing the 140p a litre mark for the first time.
The average cost of petrol is now 133.46p a litre, with diesel at 140.01p a litre.
Justin King, chief executive of supermarket chain and petrol retailer Sainsury’s, warned ahead of the Budget: “Fuel and fuel price inflation is playing its part in driving the pressure on customers’ budgets.
“The consumer is very, very wary of the future.”
Denna Bowman, Head Office