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Petrol stations are passing on just 2.71p of Rishi Sunak’s 5p fuel price cut to drivers, data shows | UK News

Gas stations have not passed on the fuel tax savings announced by the chancellery in its spring statement, new data shows.

According to the AA, petrol prices are down just 2.71p and diesel 1.59p, although Rishi Sunak said on Wednesday a 5p fuel cut would take effect immediately.

Research by the motor organization found that the average price of petrol in the UK was 164.59 liters a year and diesel 178.72 liters a year after the government’s cuts came into effect.

This is a slight decline from Tuesday, when petrol and diesel pump prices rose to new records of 167.30 pence and 179.72 Pa a litre.

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Chancellor Rishi Sunak announces a 5p per liter fuel tax cut

Mr. Sunak had said that on Wednesday The fuel tax would be reduced by 5 p.m. from 6 p.m. that dayworth 6p net of VAT, until March 2023.

Luke Bosdet, the AA’s fuel price spokesman, said: “The Chancellor drove to the rescue of drivers on Wednesday and even before the start of the fuel tax cut at 6pm, drivers reported the price cut at some Asda petrol stations.

“However, on Thursday the average petrol price showed that less than half (2.71p) of the fuel tax cut had been passed on to drivers.”

Rishi Sunak
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The Chancellor promised to relieve motorists

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It comes after drivers have since faced record pump prices Russia’s invasion of Ukraine led to a rise in oil prices.

The Chancellor promised to ease the burden on motorists by announcing the biggest cut in fuel tax rates “so far”.

He told MPs on Wednesday: “Today I can announce that the fuel tax will be reduced for only the second time in 20 years.

“Not by one, not even by two, but by 5 pence a litre.”

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The RAC criticized the Chancellor for not going far enough, and policy chief Nicholas Lyes described the cut as “a drop in the ocean” as it “just brings prices back to where they were a little over a week ago.” ” become.

While Mr Bosdet said we have to accept that for many petrol stations the tariff reduction will be enforced with the next delivery of fuel, he agreed the magnitude of the reduction is very disappointing.

Petrol stations are passing on just 2.71p of Rishi Sunak’s 5p fuel price cut to drivers, data shows | UK News

Source link Petrol stations are passing on just 2.71p of Rishi Sunak’s 5p fuel price cut to drivers, data shows | UK News

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