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Fuel Duty Cut By 5p/Litre

UK

Chancellor Sunak: "The war’s most significant impact domestically is on the cost of living. Covid and global factors meant goods and energy prices were already high: Statistics published this morning show that inflation in February was 6.2%… …lower than the US and broadly in line with the Euro area. Disruptions to global supply chains and energy markets… …combined with the economic response to Putin’s aggression… …mean the OBR expect it to rise further, averaging 7.4% this year.

  • "So I’m announcing three immediate measures. First, I’m going to help motorists. Today I can announce that for only the second time in 20 years, fuel duty will be cut. Not by 1, not even by 2, but by 5 pence per litre. The biggest cut to all fuel duty rates – ever. And while some have called for the cut to last until August, I have decided it will be in place until March next year – a full 12 months."
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