Chancellor Jeremy Hunt has once again frozen fuel duty for 12 months - a move that has been a staple of Conservative governments since the start of the coalition.
'If I did nothing, Fuel Duty would increase by 13% this month. I have decided to maintain the 5p cut and freeze fuel duty for another 12 months,' the chancellor said.
'This will save the average car driver £50 next year and bring total savings since the 5p cut was introduced to £250 pounds.'
According to the Office for Budget Responsibility’s Policy Measures Database, extending the 5p cut in fuel duty for 2024/25 will cost £2.6bn, while extending the fuel duty freeze for 2024/25 will cost £1.6bn.
The latest Fuel Duty freeze means it will remain at 57.95p per litre - the level since March 2011.
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