Govt Must Take 'Serious Action' To Reduce Fuel Prices

With 50% of the cost of a litre of petrol or diesel going to the Treasury, the Government must take serious action to reduce fuel prices across the United Kingdom, DUP Treasury Spokesman Sammy Wilson has said.

Mr Wilson said: "Fuel duty and VAT make up 50% of the cost of our fuel with green taxes attributing another 7%. With people about to pay £2 per litre, this is not a sustainable position for the Treasury to take. Whilst Treasury may argue that any such cuts cannot be applied to Northern Ireland due to the NI Protocol, we urge them to get on with it and let the EU take us to court.

"Road users can no longer fill their vehicle at the card only pumps as each card transaction is limited to £99. The costs are not only eyewatering but crippling. £120 to fill a family car.
News Image
"When fuel was half price, the Treasury was still lifting VAT as a percentage of the cost but with the pump price now double, the VAT tax take will also have doubled. The Treasury will be delighted with the extra revenue, but this is not sustainable for people in areas like Northern Ireland, where public transport is not available in rural communities. We depend on road vehicles to move goods and provide services in a way that people in urban environments do not.

"I have written to the Chancellor and reminded him of our proposals back in March when we urged that fuel duty be cut. Families have no option but to pay for fuel as they need to get to work but if these costs continue, then there will be no option but to scale back on work which itself will have a cost to the Government as more families will require welfare support payments.

"The Government must make it affordable to work and travel to work.

"I am glad the Government listened to us and introduced a windfall tax on energy companies because their profits were soaring because of macro influences rather than commercial decisions. The Treasury, however, has also benefited from a tax windfall. It is time they recognised the pressure at the pumps and take an axe to the 50% of taxes that make up our fuel costs."

Related Northern Ireland News Stories
Click here for the latest headlines.

29 October 2021
Electricity Prices Set For Another Hike
SSE Airtricity is set to increase its electricity prices in Northern Ireland by nine percent. Sinn Féin MLA Caoimhe Archibald has described the news as another huge blow for workers and families.
05 March 2020
Gas Prices Slashed By 21.5%
It's good news for thousands of bill payers across Northern Ireland as gas bills are set to fall for Firmus Energy customers. Around 46,000 people will see their price drop by 21.5% on 01 April, saving some domestic customers an estimated £135 per year.
11 August 2022
Lack of Supply Continues To Drive Up House Prices
The lack of housing supply continues to drive house prices up while growth in new homebuyer demand "stalled" in July, according to the latest Royal Institution of Chartered Surveyors (RICS) and Ulster Bank Residential Market Survey.
03 August 2022
Govt Urged To Cut Cost Of Fuel
Sinn Féin has called on the government to cut the cost of fuel, following analysis by the RAC that shows Britain and the north have some of the highest petrol and diesel prices across Europe.
02 August 2022
Govt Urged To 'Call Time' On Energy Companies
The British government must 'call time' on big energy companies and ensure they pay their way, Sinn Féin Finance Minister Conor Murphy has said. Murphy also called on the DUP to end its boycott of the Executive and form a government to put money in people's pockets.