War on motorists to end
Hammond to introduce “fuel price stabiliser”
On the face of it this looks like good news too, but will it do much at all to reduce the costs of motoring, not just for the average car owner in South Shields but for hauliers also?
So the Treasury’s “take” of petrol taxes will fall as oil prices rise, and their revenue will increase when oil prices fall, this seems to me a very good incentive for Shell, BP, et all to keep the price at the pump as high as possible to give them some sort of margin. Despite the fact that supermarkets are the main drivers of competitive pricing in this market and that demand will always be high, I can see the oil men being quite pleased with this announcement.
Err…..well done Philip Hammond (but at least he appears to be putting the brakes on the rising numbers of speed cameras and promising no tolls on current roads, and the faint hope of high speed rail links.)