Soaring pump prices: Rishi Sunak must cut fuel duty

Soaring pump prices: Rishi Sunak must cut fuel duty to soften pump prices, according to MPs.

Fuel prices are rocketing in the UK due to Russia’s war on Ukraine. MPs have called for fuel duty to be cut by Rishi Sunak. This would help soften pump prices that have soared since sanctions were placed on Russia.

According to The Sun, Prime Minister Boris Johnson believes that the sanctions imposed on Russia are worth the cost to Brits in a bid to beat Vladimir Putin. MPs have called for cuts to help drivers out.

Experts have predicted that prices will continue to rise. Global instability and sanctions placed on Russia continue to hit the price of crude oil.

Pressure to cut fuel duty at the March mini-budget is being applied to Sunak. During the last year, fuel prices have risen. This has brought in £2 billion in VAT according to FairFuelUK. They believe that this would cover the cost of giving “drivers some respite”.

MPs have also backed moves to drop fuel duty according to The Sun.

“It is unacceptable that at a time of rapid fuel price inflation the Chancellor cannot give some of the VAT windfall back to the people by means of a fuel duty cut. We need to keep Britain moving,” commented Craig Mackinlay.

Greg Smith has called for a “serious cut in fuel duty”.

Johnson was aware that sanctions would hit Brits hard. He believes it is worth it though. The possibility of cutting off Russian oil and gas has also been proposed.

Johnson commented: “There are going to be impacts. But it’s the right thing to do.

“We have to consider how we can all move away as fast as possible from dependence, reliance, on Russian hydrocarbons, Russian oil and gas. Everybody is doing that, everybody is on the same journey.”

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