Osborne axes hated 3p fuel
hike for rest of year
With the upcoming Olympics and the summer holidays on the doorstep,
conservative George Osborne has announced that the price of fuel will be frozen
for the rest of the year. The plan of freezing the fuel prizes will cost about
500 million Pounds, but can be paid as a result of departmental savings. The Conservative
MPs said that motorists “across the country” will welcome George Osborne’s
decision. Because of this plan, the fuel duty would be 10 pence a litre lower
than it would be under the plans suggested by Labour. Osborne said: “We are on
the side of working families and businesses and this will fuel our recovery at
this very difficult economic time for the world. A duty increase at the same
time as the Olympics would have cast a shadow over the UK.”
Freezing the fuel prizes is always a good thing to do, of course! But, as stated in the full article, the tax per litre of fuel is now 60 per cent, which I find incredible high! I did a little research on this, for I find this interesting, and it seems that the increase will come to force next year after all. Also, the price per barrel oil will increase significantly, so I guess the 3p duty will be paid in extra tax on the profits of companies. So, in my book, in the case of fuel prizes, it is always too good to be true. A truly benefit would be to cut the prizes with 3 pence instead of freezing them. They always find a way to make up for their losses. Just…don’t own a car.