Extension to 5p fuel duty cut comes into force
The move extends the cut until March 2025
The government have announced the extension to the 5p cut in fuel duty comes into force from today.
It means as mentioned in the spring budget, the cuts will now be extended up until March 2025.
Financial Secretary to the Treasury Nigel Huddleston was at a petrol station in Worcestershire on Friday, talking about the impact this will have on people.
He said: "This will make a big difference to people's pockets, as fuel prices will be lower than what they would've been.
"Some fuel stations could have seen prices almost 7p higher if it wasn't for these interventions, and this will save our motorists money.
"We know that some people use fuel a lot more than others, and this will make a meaningful difference to people's lives."
Alongside this the government also say they will be freezing against inflation on fuel duty from the new tax year.
Cuts to National Insurance and a rise in tobacco tax were other announcements made by the chancellor Jeremy Hunt back at the start of March.
"We are focused on making sure we can put money back in people's pockets, and the fuel cut is one of the elements of how we're aiming to do this," Nigel said.
"It's really important that where we can, we responsibly cut taxes, because people have had a challenging time with the cost of living, Ukraine, and the pandemic."
He added: "There was something in the budget for everybody."
The cut to fuel duty was introduced back in March 2022, and was also extended at last year's budget.