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2023 Fuel Duty Increase

Stunned to see this from The OBR following today's Budget.

Not a confirmed fact yet, but the lack of an OBR report on the last Chancellor's Budget bought down the previous Duo so suspect there's a reasonable chance of its validity.

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  • to be fair, the duty was reduced by 5p a litre a few months ago

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    from the BBC this evening.

    I very much doubt they will be adding 12p in a single hit. The reversal of the 5p from April '23, quite possibly. 

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    • The actual increase in duty will depend on the price at the fore courts at the time, the government knows that people will still buy diesel (for example) even if it's nudging £2 per litre, they will try to co-ordinate the fuel duty increase with a drop in oil prices so buyers effectively don't notice much difference. However if fuel prices are sky high by then, they may reduce or scrap the increase. As they will still be getting plenty of extra VAT from higher prices at the pumps

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