Business

Activists call for 25p fuel tax cut to ease cost of living crisis | UK News

Activists have called for a 25p cut in fuel prices to lower the cost of living.

Fuel tax should be reduced by 20-25p per liter in a similar way to Europe, according to FairFuelUK.

The campaign organization said the price of a barrel of Brent oil is now below £80 a barrel and should signal a “significant” reduction in fueling at pumps.

When oil was £80 a barrel in February, pump prices were down 31.4p for petrol and 38.1p for diesel.

The group said the government was “wallowing” in an additional February 30 million every day as a result.

A fuel tax cut and an independent PumpWatch would have a “massive positive effect” on lowering inflation and the cost of living.

Howard Cox, founder of the FairFuelUK campaign, said: “The foul stench of greed for profit is becoming even more overwhelming.

“Although oil prices have fallen 14% since June 1st, pump prices remain stubbornly 6-7p higher.

“The Tory government, mired in its selfish, overly protracted leadership contest, is allowing the fuel supply chain to ruthlessly and uncontrollably exploit British drivers.

“And the coffers of the Treasury Department are bulging at the seams with a lot of additional VAT.

Robert Halfon MP, Deputy Chair of FairFuelUK APPG said: “This is literally a mugging by the big oil companies.

“We need PumpWatch now to ensure motorists have a proper watchdog to investigate what appears to be extortion.”

It comes as petrol and diesel prices steadily fall in the UK, according to the latest figures.

The average price of a liter of unleaded petrol was 177.46p last Saturday, according to the RAC, while diesel averaged 188.23p.

Prices on Thursday were 178.93p and 189.3p respectively.

Global oil prices are falling, analysts said on fears that the tough economic times ahead could lead to a weakening of demand.

Activists call for 25p fuel tax cut to ease cost of living crisis | UK News

Source link Activists call for 25p fuel tax cut to ease cost of living crisis | UK News

Back to top button