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I don't think there would be many people across the country that didn't welcome the Chancellor's announcement in the recent Budget to scrap the planned rise to fuel duty. The majority of the adult population in the UK can drive and a further increase at the pumps would have hit us all in the pocket, albeit to differing degrees.
It is a clear indication that businesses and individuals who rely on cars, vans and HGV's to operate have no capacity to absorb another hike in the price of fuel. In his statement, the Chancellor said that petrol will be 13 pence per litre cheaper than it otherwise would have been if the Government had not frozen the duty for the last two years. That's more than just lose change every time that you refuel
So great news, but lets not get carried away. After all, the not so great news is that fuel is still very very expensive! Whether through taxation or market forces, fuel prices have been steadily rising for a number of years. And while every now and again we hit crisis point as drivers threaten to take action, in the main, it feels like people have just got used to it.
The prices that we pay for a litre of fuel today would have been inconceivable five or ten years ago. Fuel inflation has been significant and the only saving grace had been the more economical and efficient models that the manufacturers have created as they try to deliver cars (and now vans) that are attractive to consumers and businesses in a climate of austerity.
So savour every drop of fuel because while the Chancellor's announcement is a very positive one, it isn't a decrease and fuel prices arent going down over the long run. Select the vehicles that have an acceptable fuel consumption for your wallet and drive smart.
You can make a significant difference to your ongoing costs by driving a bit slower and less erratically. Revving less and accelerating smoothly isn't just good practise, it will save you money. While there are always journeys that you can cut out, or plan more efficiently, if you really want to reduce your costs.
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