The anticipated rise in Fuel Duty in September has been scrapped
In his 2014 Budget delivered today, Chancellor of the Exchequer, George Osborne announced that the expected September rise in fuel duty would now not take place.
Britain, regularly regarded as the fuel tax capital of Europe see a staggering 60% of the price of unleaded petrol go into the Chancellor’s pocket as VAT and Duty. Its around 58% for diesel.
Todays news will be a welcome relief for young car drivers, who already pay staggering insurance premiums.
Fuel prices have historically climbed to record levels since 2007 when a litre of unleaded cost on average 87.3p compared to todays price of 131.0p per litre.