The Guardian Newspaper succinctly summarised the Chancellor's actions this week - "the prospect of fighting an election against a backdrop of record petrol prices [...] led the chancellor to postpone a 3p-per-litre increase in fuel duty."
Rising oil prices has caused a sharp increase in the cost of petrol and diesel at the pumps with Alistair Darling announcing to the House of Commons that the planned increase in fuel duty was now to be staggered to "ease the pressure on family incomes."
Petrol
Pump Prices Outweigh Tax Increase
Whilst the public may have celebrated a reduction in VAT, fleet managers and small business owners were more concerned by the Chancellor's announcement that fuel duty would increase by 2p. However, news that diesel prices have fallen below £1 per litre will give many a reason to be cheerful this Christmas.
