"Richard Walker emphasized the need to consider extending or enlarging the 5p fuel duty cut, which is set to expire in September, due to the current economic climate."
"The blockade of the strait of Hormuz has led to a significant rise in global oil prices, with diesel prices increasing by 30% and petrol by 16% since the start of the war."
"Other countries, such as Australia, have already taken measures to reduce fuel taxes, highlighting the urgency for the UK government to address rising costs for motorists."
Richard Walker urged the government to extend the 5p fuel duty cut due to rising petrol prices linked to the Middle East conflict. The strait of Hormuz's blockade has caused global oil prices to soar, impacting the economy. The fuel duty is currently frozen until September, when a review will occur. Other countries, like Australia, have already implemented cuts to fuel taxes. The RAC reported significant increases in diesel and petrol prices since the war began, prompting calls for government action to alleviate the cost of living crisis.
Read at www.theguardian.com
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