Why Rishi Sunak’s 5p fuel cut has failed – diesel prices hit staggering record high

Why Rishi Sunak’s 5p fuel cut has failed – diesel prices hit staggering record high

“While the wholesale price has eased in the last few days this is likely to be temporary, especially if the EU agrees to ban imports of Russian oil.

“Unfortunately, drivers with diesel vehicles need to brace themselves for yet more pain at the pumps.

“Had Mr Sunak reduced VAT to 15 percent as we call on him to do instead of cutting duty by 5p, drivers of diesel vehicles would be around 2p a litre better off, or £1 for every full tank.

“As it is, drivers are still paying 27p VAT on petrol and 29p on diesel, which is just the same as before the Spring Statement.

Published at Mon, 16 May 2022 21:48:07 +0000