There was some good news for motorists in the Spring Statement today with Chancellor Rishi Sunak announcing a cut in fuel duty.
The reduction of 5p per litre for the next 12 months has been welcomed by Hendy Group chief executive Paul Hendy who said that while the cut is modest, any help to cut fuel costs was welcome.
“The cost of fuel has become an increasingly high burden on motorists in recent months, so any cut is certainly good news,” he said. “This reduction will shave around £3 from every fill-up and is the first cut in fuel duty since 2011 when it was frozen.”
The RAC says that while it is pleased that the Chancellor has given drivers some much-needed relief at the pumps, the reality is that a 5p cut in duty is something of a drop in the ocean.
It says that filling the average 55-litre family car with petrol is still more than £92 and nearly £99 for diesel.
Reducing fuel duty by 5p will take prices back to where they were just over a week ago.