Question to the HM Treasury:

To ask the Chancellor of the Exchequer, with reference to the 5p per litre reduction in fuel duty announced on 23 March 2022, what assessment he has made of that policy’s (a) efficacy and (b) impact for consumers to date.

At Spring Statement 2022 in response to fuel prices reaching record levels, the Government announced a temporary 12-month cut to duty on petrol and diesel of 5p per litre.

This is the largest cash-terms cut across all fuel duty rates at once, ever, and is only the second time in 20 years that main rates of petrol and diesel have been cut. This cut represents savings for households and businesses worth around £2.4 billion in 2022-23.

The Government has been clear that it expects those in the supply chain to pass the fuel duty cut through to consumers as promptly as possible. Following a request from the Business Secretary, the Competition and Markets Authority will undertake a short and focused review of the fuel market and will provide advice to the Government on steps that could be taken to improve outcomes for consumers.

All taxes, including fuel duty, remain under review.