Calls for fuel duty cut as prices hit record high

A CAMPAIGN group is calling for a cut to fuel duty as prices at pumps hit a record high.

Wokingham’s motorists are paying more this week as the price of oil has risen. Yesterday, at the Texaco in Charvil, the cost was 165.9p for a litre of unleaded, and 177.9p for diesel.

Fair Fuel believe that prices are set to rocket by up to 20p per litre in the coming week and is calling for a cut in fuel duty to help motorists.

Howard Cox, founder of Fair Fuel, said that there should be an “urgent” 5p cut in fuel duty.

“Extra VAT generated in the last year and the coming months because of the record prices at the pumps is more than enough to give drivers some respite,” he said.

“This would bring pump prices in line with the average of Europe and make businesses more competitive and viable in a postcovid recovery phase.

The price of fuel is a mixture of taxes and the cost of a barrel of crude oil. Brent crude oil trading at $130 a barrel as of Monday, March 7. Last year, the average price was $68.17.

Fair Fuel argue that the rate motorists are paying is between

10p and 14p per litre higher than it should be, with total taxation on fuel running at around 55%. It also backs the Road Haulage Association’s call for an essential user rebate of 15p per litre.

“A fighting-fit, resilient road freight and logistics sector is essential too, not only to keep

Britain moving, but to help build back better as we return to normality following the pandemic,” Mr Cox added.

The group also wants to see a PumpWatch monitor introduced to ensure the price at the pumps is fairer for motorists.

Have you seen higher prices? Email news@wokingham.today