Diesel and Petrol: Prices
The question
To ask the Secretary of State for Energy Security and Net Zero, what assessment his Department has made of recent trends in levels of (a) petrol and (b) diesel prices in Lincolnshire.
Answered by Martin McCluskey
Fuel markets are overseen by the Competition and Markets Authority (CMA). The Government and the CMA are closely monitoring fuel prices in light of instability in the Middle East, and I have raised reports of localised price spikes directly with the CMA.
The CMA’s latest road fuels prices report published on the 1 May should reassure drivers that the road fuels market is working as expected at a time when drivers are under pressure.
Nonetheless, we have taken several measures to protect drivers. The Chancellor has frozen fuel duty since this Government came to office, extending the 5p fuel duty cut until 31 December. We have also implemented Fuel Finder, which my Department’s analysis suggests could save households that own a car around £40 per year on average.
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