by David
24. March 2011 18:10
Question
So how much of a reduction in petrol prices, would make any significant difference to the average car driver?Will going down by 1p make any savings at all for the average motorist?
Answer:
Apparently the key point is that under the existing arrangement the duty would have increased by 5p a litre, so the real saving is 6p. If you drive 10,000 miles a year you should save £1 per week. Every little helps.
The government has tried to woo the "Nissan Micra family" and head off a summer of discontent among lorry drivers by imposing a levy of up to £10bn on the oil industry to pay for lower prices at the pump.
Peter Carroll, a former haulier leading the FairFuelUK campaign group, said the move might be enough to buy off truckers agitating for fuel blockades. "This is clearly a huge victory for the FairFuelUK Campaign. This is excellent news and represents a real change in approach from government, although we have yet to see whether the oil companies will pass the reductions on," he said.
The windfall tax on oil companies announced in the Budget will not be passed on to motorists in higher fuel prices, a Treasury minister has said.
The chancellor announced a £2bn windfall tax on North Sea oil producers, to pay for a fuel duty cut.
Labour said the oil firms might recoup this through higher pump prices.
But Danny Alexander said consumers would not be passed these costs because petrol retailers could source oil from whatever source was the cheapest.
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