The freeze on fuel duty has been extended several times since 2022
administration in March 2022 - will now be extended until the end of the year, keeping the rate frozen at nearly 53p per litre. Under previous Treasury plans, fuel duty was set to rise by 1p per litre on September 1, followed by consecutive 2p increases on December 1 and March 1 next year.continue to strangle global supplies.
Since the conflict erupted on February 28, the financial fallout at British pumps has been stark, withWhile a number of motoring groups welcomed the relief, they noted that the Treasury has already quietly prospered from the crisis via windfall VAT receipts on higher Steve Gooding, director of the RAC Foundation, revealed that British drivers have already paid a "staggering £3 billion" war premium since February, resulting in a £500 million VAT windfall for the Exchequer.
"Although today’s news won’t have the immediate effect of bringing forecourt prices down, at least it shows that ministers have registered the financial pain," Gooding said. Jack Cousens, head of roads policy at the AA, echoed the sentiment regarding the Government's VAT gains, adding that the crisis now "gives an opportunity for the Government’s Fuel Finder scheme to show its value, by showing drivers where to find the best prices".
The Treasury said they would pay £1 at their annual renewal, saving £600 for a typical heavy lorry and £912 for the biggest vehicles on the road. Farmer, rail freight and other users of red diesel will see their fuel duty cut as part of an effort to reduce costs of goods. The rate will be cut from 10.18p to 6.48p per litre from June 15 until the end of the year.
Instead of the planned phased increases , fuel duty will remain locked at 52.95p per litre. According to the Treasury, maintaining this freeze through the end of the year will save the average UK motorist roughly £120 over a two-year period .
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