A fuel duty cut is looking more likely in this month’s Budget as Chancellor George Osborne promised to help the motorist.
Speaking at the Conservative Spring conference in Cardiff over the weekend Osborne said: “When it costs £1.30 for a litre of petrol; £80 to fill up a family car; I know people feel squeezed. And I say this to people watching: I hear you.
“But we’ve got another of the Labour Party’s pre-prepared rises in petrol tax also coming this April - one penny above inflation. I won’t take risks with economic stability, or wreck the public finances. But I promise you I am doing everything I can to find a way to help.”
While the Chancellor’s words are encouraging to the industry, RMI Petrol chairman Brian Madderson again expressed concern that the true cost any duty rise is not being addressed.
“Once again the Chancellor appears to be opening the door for some decisive action with fuel duty in the March 23 budget,” said Madderson. “But there are still many media commentators and politicians who believe the duty increase is just 1ppl.
“RMI Petrol continues to beat the drum that it’s really a 5ppl increase that is looming, hence very real concern that this is fully abandoned, not just deferred or diluted.”