The Government’s grand gesture of cutting fuel duty seems to have been a flash in the pan, with the average price of petrol already higher than it was before the Budget.
Two weeks ago George Osborne announced a 1p cut in fuel duty, but according to experts rising oil prices will make this popularist move something of a hollow gesture.
‘The volatile oil market has meant that drivers have seen very little benefit from the duty cut. Prices are continuing to spiral upwards with no end in sight to the high prices,’ said RAC motoring strategist Adrian Tink to the Mirror.
AA head Paul Watters added: ‘The Government's delay of the fuel duty increase prevented thousands of poorer drivers from being tipped into road fuel poverty and the 1p cut in duty was very welcome.
‘However, the Chancellor must feel like King Canute trying to stop a tide of rising fuel prices that threaten to swamp family budgets, business survival and economic recovery.’