Cut on fuel duty to be extended for rest of the year
Britain’s motorists and businesses will get help with rising prices at the pumps with a targeted package to keep taxes down and support people with the impact of war in Iran.
The government has announced that the 5p cut on fuel duty will be extended for the rest of the year.
The conflict has pushed up costs for hauliers. The chancellor is now giving businesses a 12 month road tax holiday – meaning they will pay £1 at renewal, saving £600 for a typical heavy lorry and £912 for the biggest vehicles on the road.
Farmers, rail freight, and other red diesel users will also see their fuel duty cut by over a third until the end of the year. This is the lowest rate in over 20 years, helping to keep the cost of doing business down at a difficult time when red diesel prices are around 50% more than their pre-crisis levels.
