Drivers are facing a £10 billion hike in annual petrol and diesel costs as “soaring” prices put the squeeze on working families across the UK, Labour has warned.
Labour has renewed demands for an “emergency budget” to tackle the cost-of-living crisis, with a cut to energy bills funded by a windfall tax on oil and gas companies.
Figures from the Labour party showed that the cost of a litre of unleaded petrol rose by 37p over the past year, while for diesel the rise was 47p over the same period.
Factoring in the number of cars per household in the UK, along with averages for distance travelled and fuel used, it calculated that drivers face spending an additional £6 billion on petrol and £4.2 billion on diesel this year, compared to the last.
Louise Haigh, Labour’s shadow secretary of state for transport, said: “This is a savage extra cost for working people.
“The Conservative Government needs to set out an emergency budget to tackle its cost-of-living crisis – and support Labour’s call to put money back in the pockets of working people.”
The Chancellor cut fuel duty by 5p in his spring statement, but Labour said this had been “swallowed up” by “soaring” costs.
Under Keir Starmer’s plan a one-off windfall tax on the booming profits of oil and gas producers would help hpouseholds with up to £600 discount on energy bills.
With the cost of living crisis moving centre stage in politics Boris Johnson is expected to devote the weekly cabinet session with Ministers to discussing how best to respond.
Ahead of Cabinet, the Prime Minister Boris Johnson called for a “team effort” across government to ease the burden on consumers.
He said: “We have a strong package of financial support on offer, worth £22 billion, and it’s up to all of us to make sure that help is reaching the hardest-hit and hard-working families across the country.
“We will continue to do all we can to support people without letting Government spending and debt spiral.”
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