Experts are calling on Chancellor Jeremy Hunt to slash the rate of fuel duty in the upcoming Autumn Statement to lower inflation and help motorists at the pumps.
Jeremy Hunt is set to deliver the Government’s final Budget of 2023 on Wednesday, November 22, with many looking at the Government to ease the burden on Britons.
One of the key topics touted by experts is fuel duty, with many drivers keen to see the Government cut rates to lower prices of petrol and diesel at filling stations.
In the Spring Statement last year, the then-Chancellor Rishi Sunak announced a 5p per litre cut to the rate of fuel duty.
WATCH NOW: Petrol and diesel drivers react to expensive fuel prices
The Government forecast that it would save the average driver around £100 over the course of 12 months, with Jeremy Hunt extending the cut again in March this year.
While it has helped lower prices for drivers, retailers have been accused of profiteering and artificially inflating costs at pumps.
Howard Cox, founder of FairFuelUK, spoke about the need for drivers to be helped with their fuel costs, especially amid the cost of living crisis.
Cox, who is also running for London Mayor as the Reform UK candidate, described a cut to fuel duty as a “no brainer”.
He added: “Time to finally recognise that lowering fuel duty and preventing opportunistic profiteering at the pumps will positively drive the economy, attract back disgruntled voters, with the positive fiscal benefit of generating even more tax income to the Treasury.
“13 years of FairFuelUK ramming home the message to a succession of anti-driver Chancellors, that lower, fairer, and transparent pump prices are good for the economy, businesses, and disposable income, must be heeded once and for all.
“The Exchequer cannot keep ignoring nine out of 10 voting drivers calling for lower fuel taxes.”
Data from FairFuelUK found that 88.5 per cent of members were in favour of a cut to fuel duty in the upcoming Autumn Statement.
A further 92.3 per cent were in favour of PumpWatch, an updating fuel price checker, backed by the Competition and Markets Authority (CMA).
According to RAC Fuel Watch, drivers in the UK are paying 151.7p per litre for petrol, while diesel motorists are being charged 158.8p.
Prices are generally slightly lower at supermarkets, although the cost differences are no longer as big as they once were, with drivers saving between two and three pence per litre.
Howard Cox, who is the secretary to the APPG for Fair Fuel for Motorists and Hauliers, continued, saying: “The Chancellor should have the guts to lead the world in significantly cutting fuel duty and also ensure that the fuel supply chain is rigorously scrutinised by putting the much-promised PumpWatch pricing watchdog into operation. It must have real teeth too.
“In the lead-up to the 2024 general election, this Government can draw back Conservative voters by backing the commercial and social heartbeat of the nation’s economy.
“There are only benefits to lowering transport costs, there are no risks.”
A fuel duty cut would further slash petrol and diesel prices
Jeremy Hunt will unveil his Autumn Budget on Wednesday, November 22, with many Britons looking at the Government for tax cuts.