Average pump prices have hit new record highs amid growing speculation the Chancellor is preparing to slash fuel duty. Figures from data firm Experian Catalist show the average price of a litre of fuel at UK forecourts on Sunday was 167p for petrol and 179p for diesel.
This is an increase of 18p for petrol and 26p for diesel over the past month. There are suggestions Chancellor Rishi Sunak could announce a temporary cut in fuel duty of up to 5p per litre in Wednesday’s spring statement.
Gordon Balmer, executive director of the Petrol Retailers Association, which represents independent forecourts, insisted “we don’t want to charge” record prices as “many of our members know their customers personally”.
