FairFuelUK has reacted to news that petrol & diesel prices are likely to reach new record highs within days by urging the Chancellor to take decisive action in his March Budget and cut Fuel Duty.
Spokesman Quentin Willson said, 'Fuel prices are out of control and are now the biggest financial issue faced by UK consumers. Proof that the UK road fuel market is truly dysfunctional was confirmed in shock news today the fuel sales are at their lowest for 23 years. In January consumers bought 100 million litres less than they did in December 2012 costing the Treasury £60 million a month in lost revenue. Yet despite this slump in petrol and diesel sales, pump prices have risen 6p in the last 30 days. Regional price variations can now be as much as 20p a litre with some rural drivers paying £1.59 for a litre of diesel. We are urging the Chancellor to decisively cut Fuel Duty’.
Peter Carroll of FairFuelUK added, ‘Fuel Duty is the most ‘toxic’ of taxes. It hurts the poorest the hardest and is holding back growth. Drivers and businesses are paying an eyewatering 80p per litre in combined VAT and Fuel Duty. All our research shows that cutting Fuel Duty will give the Chancellor the thing he needs most