Drivers could save £40 a year with 5p petrol reduction

6th March 2012

A five pence per litre reduction in the current fuel duty could allow drivers to save an average of £40.80 a year, according to research conducted by Green Flag.

The findings come as the breakdown firm lend their support to campaigns calling for a chancellor George Osborne to reduce the current price of petrol.

Mr Osborne is set to announce the latest changes to fuel duty as part of his upcoming budget report on March 21st.

UK drivers have faced mounting petrol bills in recent years which, when coupled with the cost of an annual MOT test or the replacement of tyres, places further strain on day-to-day budgets.

The situation is even worse in the haulage sector, with increasingly tight margins being squeezed further by the rising duty placed on petrol in the UK.

According to Green Flag, any potential five pence reduction in fuel duty could have far reaching effects for the UK economy, with a cumulative total of £1 billion saved by motorists.

Green Flag spokesperson Miranda Schunke, welcomed the changes noting: "Fuel is one of the most significant expenditures for UK families today."

"With the chancellor's budget fast approaching, we wanted to highlight the impact of any change in fuel duty at a time when household budgets are continuing to be well and truly stretched."

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