Hard pressed drivers are soon to be hard hit with another fuel duty hike over the next few weeks, making an average family around £104 a year worse off. The government will soon take 71p tax from every £1 spent by motorists purchasing fuel.
This hike is set to make the Treasury an extra £3.8 million per day more tax from unleaded petrol then it did 2 years ago, duty on unleaded and diesel will rise by 1.84p to 54.19p a litre next month. That means roughly 71 per cent of the price of petrol will go to the government via fuel duty and VAT.
Fuel duty rose by 2p a litre in late 2007 and again by another 2p last Decemeber, this new rise of 1.84p will increase fuel prices by around 2p a litre after VAT.