£200 to fill up – new shock for motorists as Sunak mulls fuel duty cut next week

World News

Ukrainian MP warns EU 'will be next' if Putin wins war

We use your sign-up to provide content in ways you’ve consented to and to improve our understanding of you. This may include adverts from us and 3rd parties based on our understanding. You can unsubscribe at any time. More info

Petrol prices are soaring as the US and UK impose strict sanctions on Russia, which produces 10% of global oil supply. Prices were already rebounding as Covid lockdowns eased, but have accelerated since Vladimir Putin invaded Ukraine.

The oil price rocketed to $132 a barrel last week, only to dip on hopes that Russia-Ukraine peace talks will have some success.

A barrel of Brent crude now costs $100, but most analysts expect the price to snap back as Putin seems unlikely to call off his brutal assault.

Yesterday, a litre of unleaded hit 163.46p, while diesel hit 173.44p, according to the RAC.

That means filling up a family saloon with a 55-litre tank now costs £89.90 for unleaded, rising to £95.39 for diesel.

That’s almost £10 more than at the start of the year and £18 more than a year ago.

With petrol expected to hit £2 a litre, a tank of unleaded could soon cost £110 for the typical saloon.

Motorists with bigger cars will have to pay a lot more.

Millions of drivers with gas guzzling cars face paying up to £200 for a full tank of petrol.

There are more than four million registered SUVs in the UK and owners face paying the highest prices of all to fill up, according to new research from car comparison leasing site LeaseLoco.

Some 4x4s have tank capacities of 100 litres, so filling up from empty could cost as much as £200 if petrol hits £2.

Drivers who own some of the most popular large SUVs will face the biggest bills, as the Land Rover Discovery holds 89 litres and the Range Rover Sport 86 litres.

They face paying up to £170 every time they fill up, while filling up an Audi Q7, which holds 100 litres of petrol, will cost an eye-watering £200. 

Drivers of mid-size SUVs will also struggle, with the Volvo XC60 holding 71 litres, while the Audi Q5 holds 70 litres.

Filling up from empty will cost owners £140 should prices hit £2 a litre.

A petrol station in Chelsea, west London, has already been charging drivers £2.19 to fill up, and others are likely to follow.

Millions of motorists with smaller cars will also be struggling and there are growing calls for Chancellor Rishi Sunak to cut fuel duty in his spring statement next Wednesday, on March 22.

A precedent has been set in Ireland, where the government has cut tax by 17p on unleaded petrol and 13p off diesel, blaming the war.

Tory MPs are urging Sunak to act and RAC spokesman Simon Williams called on the Chancellor to ease the “unbelievable financial pain” drivers now feel.

Petrol price hits £3 a litre in nightmare for motorists due to Russia [WARNING]
Couple lives on less than £1 a day to pay off £43,000 debt [INSIGHT]
Millions to retire on just £1,000 – bleak outlook on State Pension [ANALYSIS]

Fuel duty costs a staggering 57.95p a litre, while VAT at 20 percent is then charged on both the product price and the duty.

Duty has been already frozen for this year. Now a new petition is calling on the Government to reduce fuel duty and VAT by 40 percent for a period of two years.

It has so far gathered 65,000 signatures but requires 100,000 by April 18 to trigger a debate in Parliament.

Next week all eyes will be Sunak to see if the Chancellor rushes to the aid of hard-pressed motorists.

Source: Read Full Article