For the last 10 years, fuel duty has been frozen by consecutive Conservative Governments. The Chancellor, Rishi Sunak, committed in March 2020, at the start of the coronavirus pandemic, to continue to freeze fuel duty.
These 10 years of frozen duty has cost the Treasury over £100billion. This figure has also been added to by low and zero-emission vehicles paying little or no yearly road tax, with rumours in the industry of a rise in duty come the March spring statement.
With some MPs supporting an increase in the duty up to 5p per litre. Adding to the current price of 57.95p per litre, filling a 60-litre fuel tank would increase by £3 per visit or £156 a year for those who filled up weekly. The increase would raise extra funding needed to help pay off the coronavirus debt.
As we reported earlier in the week, with an increase in fuel duty and proposed road tax charged per mile, the motorist is being hit hard in the pocket, this is likely to be a hot topic and we expect to see more discussion and developments over the next few months.
Be sure to keep checking back to your blog for further developments on this, and future road tax changes. If you're interested in an electric vehicle see our wide sectional here.
