Chancellor Rishi Sunak has reduced the fuel duty by 5p a litre for the next 12 months, in what he said was ‘the biggest cut to all fuel duty rates ever’.
The governments spring budget is set against an economic outlook that he called ‘challenging’. According to Governments own figures, the average price of a litre of diesel was 129.02p (with VAT) in March 2021, compared to 177.47p in March 2022.
Elizabeth de Jong, director of policy at Logistics UK, said the Chancellor’s decision will help to ensure operators can continue to afford supplying the nation with all the goods it needs.
She added: “The cut in fuel duty will help to strengthen the UK’s supply chain during a time of ongoing financial and operational challenges.”
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