Millions of UK drivers are being urged to fill up their cars before a major budget announcement next week that could send petrol and diesel prices soaring.
Potential End to Fuel Duty Freeze
Chancellor Rachel Reeves is reportedly considering scrapping the 5p fuel duty freeze which has been in place since 2022. This policy has been a crucial measure in keeping pump prices down during the ongoing cost-of-living crisis.
The significant change could be announced at the Budget on November 26. If the freeze is ended, it will result in an immediate price increase at forecourts across the country.
Impact on Household Budgets
Ending the freeze is expected to pile more financial pressure on families already struggling with high living costs. A spokesperson for fuel experts Your NRG warned: "Many households are still dealing with the lasting impact of higher living costs, so even a small increase in fuel duty would be felt immediately."
The expert further explained that the current 5p reduction has helped stabilise prices during a period of wider economic pressure. Its removal could force drivers to pay more at a time when they can least afford it.
Expert Advice for Drivers
With a potential price surge looming, motorists may want to take advantage of current prices and fill up their vehicles before any official announcement.
Fuel experts also recommend several strategies to mitigate costs:
- Shopping around for the best local price
- Choosing the right fuel card
- Avoiding filling up on motorways where prices are typically higher
"These small savings add up significantly over the course of a month, especially for high-mileage drivers," the Your NRG spokesperson added. The knock-on effect of a duty increase would also be felt by small businesses that depend on fuel for their daily operations.
