Fuel duty frozen for ninth year

What is fuel duty?

Fuel duty is a tax which is paid on most fuels â€“ since March 2011, it has stood at 57.95p per litre of petrol, diesel, biodiesel and bioethanol. 

VAT, which is currently 20%, is also added to the total price of the fuel. 

Data from the RAC Foundation says that 59.6% of the pump price of diesel and 61.2% of the pump price of unleaded petrol is made up of tax. 

According to the Office for Budget Responsibility, fuel duty will bring in £28.2 billion for the Treasury in 2018/19, equivalent to £1,000 per household.

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *

Scarpenter - Page brought to you by S Carpenter