On 8 November, the Petrol Retailers Association wrote to the Chancellor of the Exchequer, Jeremy Hunt, regarding the 5p per litre fuel duty cut introduced in March. Gordon Balmer, executive director of the PRA, said: “Skyrocketing energy prices have had a devastating impact on household finances. When every penny counts, it is crucial that the 5ppl fuel duty cut introduced in March of is maintained.
Ahead of the Budget the Petrol Retailers Association (PRA) has written to the Chancellor of the Exchequer urging the Government to cut fuel duty to reduce the burden of soaring energy costs and fuel prices on consumers and businesses. In its letter, the PRA explains that rapid increase in the wholesale price of petrol and diesel have had to be passed on to the motorist. The association explains; “Our members have done what they can to alleviate the increases, but the speed at which prices have moved has been unprecedented and has left many forecourt operators with negative fuel margins”.
The PRA has written to Sajid Javid MP, the Chancellor of the Exchequer, a case for cutting road fuel duty by 2 pence per litre in the first Budget of the new Government.
Senior sources have confirmed that the Government would announce the 2ppl fuel duty cut later this year – the first reduction of the motoring tax in eight years. “The PRA has welcomed hints carried by national media that the Treasury may be considering fuel duty cuts in the upcoming Autumn Budget”, said Brian Madderson, chairman of the Petrol Retailers Association (PRA).
Drivers of diesel engine cars are likely to face a hike in fuel price, according to the Petrol Retailers Association (PRA). Chairman Brian Madderson states that the association “has been informed by a well-placed parliamentary source, that the Chancellor is likely to announce a 1ppl increase to fuel duty for all diesel drivers in this week’s Autumn Budget. This would be a thinly disguised tax grab using air quality issues as justification.”
Fuel prices in the UK will rise following the devastating impact of Hurricane Harvey on the Texan coast, according to the Petrol Retailers Association. Brian Madderson, chairman of the PRA, explained that UK wholesale prices had increased immediately as the storm hit the region.
UK chancellor of the exchequer Philip Hammond’s spring Budget contained the Office for Budget Responsibility (OBR) upgraded growth forecasts for 2017, while predicting lower – but rising – figures for the years following the assumed activation of Article 50 as the country leaves the European Union. The government also confirmed an extra £690 million will be added to the £1.3 billion announced in autumn to improve transport networks in urban areas. In other transport news, the freeze on fuel duty has been retained.
On 28 February, the Petrol Retailers Association (PRA) raised the issue of the Rural Fuel Duty Rebate Scheme at a meeting with HM Treasury and HMRC. Brian Madderson, PRA chairman, met with Humza Yousaf MSP, minister for transport policy and the islands, for discussions when visiting the Scottish Government in Edinburgh.
There are continuing suggestions from government sources that small businesses, especially those embracing ‘hospitality’, will be given concessions on their business rates liability in the March Budget.
The Petrol Retailers Association has argued that a cut in fuel duty would help the UK economy tackle the twin challenges of a weaker pound and a stronger oil price. “A fuel duty cut will provide a reassuring boost to businesses and consumers alike”, said chairman Brian Madderson, in a letter to the chancellor following a recent meeting with Treasury officials.
The Government is considering reversing a cut in diesel duty in an effort to address air quality concerns. Transport secretary Patrick McLoughlin told the London Evening Standard that the former Labour chancellor Gordon Brown had made a mistake when he cut diesel duty by 3p in his 2001 budget. McLoughlin said: “It is something the chancellor will need to look at in due course.”
Petrol retailers’ chief Brian Madderson has called on the chancellor to “keep fuel duty down” in this month’s Budget. Five years ago, the chancellor froze fuel duty, a move the PRA said led to “more goods being purchased and more people being hired.” The PRA has long lobbied for either frozen or reduced fuel duty on the basis that this helps to increase business and consumer spending.
The Petrol Retailers’ Association has welcomed the chancellor’s Budget announcement that fuel duty will be frozen, while expressing disappointment that there was no cut. Brian Madderson, chairman of the Petrol Retailers Association comments: “The PRA has been lobbying Government and the Treasury on the subject of fuel duty, so it is good news to hear the chancellor’s announcement.
The Freight Transport Association (FTA) is warning the chancellor that failing to freeze or cut fuel duty in the Budget could sabotage the country’s economic growth. The Association, which has 14,700 members in the logistics industry, says falling fuel prices have been a major factor in the country’s recovery.
The Freight Transport Association (FTA) has called on the chancellor to freeze or cut fuel duty ahead of Wednesday’s FairFuelUK event at the House of Commons. Chief executive David Wells has written to George Osborne asking him not to renege on his promise to hold current levels until September.
