“Help With The Price Of Petrol Please”
As the price of petrol continues to rise there is talk of the government helping to relieve some of the pressure with the introduction of “fair fuel stabiliser”.
Currently the price of petrol is split into 3 segments making the average price of petrol to £1.28 per litre
1) The V.A.T – This is currently at 17% of the cost (21.35p)
2) Fuel Duty – This is currently at 46% of the cost (58.95p)
3) Petrol – This is currently at 37% of the cost (47.7p)
The plan which is being considered would see the Government fuel duty being reduced as the price of petrol rises and so helping to stabilise the price paid by drivers at the pump.
This plan could really help those feeling the pinch and provide a welcome relief for people living close to the poverty line especially as the cost of living continues to rise.