Fuel duty is set to be frozen for a ninth year in a row, the Prime Minister is set to announce in a conference speech later today.
“For millions of people, their car is not a luxury. It’s a necessity,” she will announce at the annual Conservative party conference in Birmingham. “Some have wondered if there would be a thaw in our fuel duty freeze this year. Today I can confirm that in the budget later this month, the Chancellor will freeze fuel duty again. Money in the pockets of hard working people from a Conservative Government that is on their side.”
Chancellor Philip Hammond added: “This has come at a significant cost to the Exchequer, but the high oil price and the near-record pump price of petrol and diesel are also imposing a significant burden on motorists. So we have decided that to support hardworking families, we will once again freeze fuel duty in the upcoming budget.”
The average UK petrol price is currently 130.6p per litre, while diesel is 134.5p. In the past 12 months, average petrol prices have gone up by 11.5p a litre, with diesel up by 14p a litre.
Motoring organisation the RAC welcomed the announcement, but warned prices could still rise in the near-future: “Drivers are currently paying the highest prices at the pumps for four years. While there is a silver lining in the form of no rise in fuel duty, darker clouds in the form of higher wholesale costs may well be passed on to drivers at the pumps imminently, so it would have been foolhardy for the Treasury to opt to punish drivers further,” said RAC fuel spokesman, Simon Williams. “Motorists can breathe a sigh of relief for now, however it is a shame that each year motorists have to worry whether the Government is about to hit them harder in their pockets.”