Christmas Present From The Government?

Due to kick in September 1st 2014 was a fuel rise put into place by the government which would see a 1.6 pence per litre increase, it was just another blow for people regarding the always rising fuel prices. In recent years as you are likely aware fuel prices have shot up, in the 1990s fuel prices where between 40-60p per litre but now it ranges from 126p-141p per litre, an incredible amount more and yet they were set to rise it again.

You may however be happy to hear that the government have cancelled the fuel duty rise in order to ensure that the price remains static for the rest of the years they are in parliament. This will mean that soon the rate will have been frozen for four and a half years the longest amount of time that the government have managed to freeze it for twenty years, George Osborne has claimed that this policy will save drivers £680 between 2011 and 2015/16 on average.

Is it just a stunt to make the party look good? Oh well all it means to us is that the price of fuel isn’t going to rise, in fact with the cost of Liquefied Petroleum Gas rate going down by 1 pence per litre every year until 2024 it could be really good news as hand in hand with this price freeze we will be saving on our petrol rather than spending more, it sounds great, almost too good to be true. So just how long will it last?

They are also trying to promote alternative fuels which are more environmentally friendly by dropping the prices of these as well. There are also several changes to company car tax however this doesn’t look to be a good thing as companies can expect to be paying out a lot more for their fleet vehicles in coming years.