Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

Fuel tax cut in UK among lowest in Europe, RAC says

by August 1, 2022
August 1, 2022

The UK has given some of the least generous support to help drivers with high fuel costs among countries in Europe that have taken action, the RAC has said.

The motoring group said that out of 13 European nations that have cut tax on petrol, only Luxembourg has done less.

The UK cut fuel duty by 5p a litre in March, but the RAC says this looks “paltry” when compared to elsewhere.

The government says the duty cut will save the average driver £100 a year.

UK petrol prices have hit record highs this year, although they have started to fall back in recent weeks.

Fuel prices have increased sharply because the price for crude oil, which is used to make petrol and diesel, has gone up. Oil prices jumped following Russia’s invasion of Ukraine in February, but they had already been rising as demand rose following the lifting of Covid restrictions.

In the Spring Statement in March, the government announced a 5p-a-litre cut in fuel duty to help motorists, but the RAC said the UK was “languishing near the bottom of the table of the 13 countries that have actually done something to help with the price of fuel”.

It said Germany had taken the equivalent of 25p a litre in tax off per litre of petrol, Italy 21p, Portugal 16p, and both Ireland and the Netherlands had cut duty by nearly 15p.

Other governments have introduced fuel discounts that take effect when motorists are paying at forecourt tills, with Spain cutting prices by about 17p a litre and France 15p.

The RAC said that of 15 European Union countries that have not taken action to cut fuel prices since March, all but six already charged less fuel duty than the UK, even after the 5p-a-litre cut.

While petrol prices have begun to fall in recent weeks as wholesale costs decline, the RAC says UK’s average price of 186p a litre makes it the joint second most expensive country behind Finland (190p) and level with Denmark (186p).

“This analysis lays bare an uncomfortable truth for the UK government – that compared to other European countries, it’s pretty much done the least to support drivers through the current period of record high fuel prices,” said RAC fuel spokesman Simon Williams.

Read more:
Fuel tax cut in UK among lowest in Europe, RAC says

0
FacebookTwitterGoogle +Pinterest
previous post
Energy-intensive companies face shutting early or rationing
next post
Waitrose removes best-before dates from fresh food to reduce waste

You may also like

Exploring the Top Cryptocurrencies for Crypto Sports Betting

July 4, 2023

XRP’s Role in the Global Business Economy: Trends,...

March 24, 2025

Spring budget 2024 key highlights

March 6, 2024

Britain will dodge recession in 2023, think tank...

February 8, 2023

Technological Innovation: How are Greece and the UK...

July 3, 2025

Types of Loans – How to Choose the...

November 29, 2022

The Secret to Staying Energized for Busy Business...

January 29, 2025

Jungle murals for the wall as an idea...

December 30, 2022

Google for Startups unveils the 10 Black-led UK...

June 12, 2023

Investing in Grenada Property for Securing Citizenship

November 11, 2024

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Junk food banned from SNAP benefits in 6 more states, a win for MAHA advocates

      August 7, 2025
    • DOJ turns to Gabbard’s office for next step in grand jury probe of alleged Russiagate conspiracy

      August 6, 2025
    • New Romanian law may have averted NATO clash with Russia after border strikes

      August 6, 2025
    • Violent attack reignites BOWSER Act debate as Trump floats federal takeover of DC

      August 6, 2025
    • Senate hopefuls jostle for high-stakes seat after Blackburn jumps into governor race

      August 6, 2025
    • Tracking the Health of the Private School Sector

      August 6, 2025

    Categories

    • Business (8,691)
    • Investing (2,179)
    • Politics (16,329)
    • Stocks (3,228)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved