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Petrol and diesel prices remain high in the UK today, despite Chancellor Rishi Sunak announcing a 5p fuel duty cut as part of his Spring statement on Wednesday (23 March). Some forecourts are even charging drivers even more after the announcement, reports the Mirror.
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Even before Chancellor Rishi Sunak's Spring Statement, consumers were aware that the cost of living was on the rise, from petrol to inflation to prices in the supermarket. But despite spring weather, finally, starting to emerge, arguably the biggest impact on people's bank balances this year will be the increase in energy costs.
On Wednesday (23 March) Rishi Sunak delivered his Spring Statement in the House of Commons, as the cost of living crisis deepens. Just hours before the statement, it was announced that inflation and UK prices rose by 6.2 per cent in the 12 months to February.
Chancellor Rishi Sunak has outlined his plan to help households through the cost-of-living crisis, as figures showed inflation soaring to a 30-year high.
Andy Burnham is holding a press conference in the wake of Chancellor Rishi Sunak's Spring Statement, which comes after pleas for financial help from across the country as the cost of living boils to crisis point. The mayor of Greater Manchester is also set to give an update on coronavirus in the region for the first time in weeks, as case rates skyrocket in all 10 boroughs.
Average pump prices have hit new record highs amid growing speculation the Chancellor is preparing to slash fuel duty. Figures from data firm Experian Catalist show the average price of a litre of fuel at UK forecourts on Sunday was 167p for petrol and 179p for diesel.